Slow vaccine rollout stands to halve world growth: World Bank's Reinhart

The Group of 20's common framework, which aims to get China and private lenders more involved in debt relief, can help poor countries resolve issues faster

Global growth this year could be less than half the World Bank’s 4% estimate if vaccine distribution doesn’t move quickly, said chief economist Carmen Reinhart. A more drawn-out recovery will add to the pressure on nations that are burdened with debt, many of which will likely seek to restructure due to the pandemic, Reinhart said in an interview with Stephanie Flanders for Bloomberg’s The Year Ahead virtual summit. Emerging markets are going to have a “rough road ahead,” she said.

The Group of 20’s common framework, which aims to get China and private lenders more involved in debt relief, can help