The multilateral lender says that even with regional growth projected to recover at 6.3% this year, with vaccination accelerating and COVID-19 deaths falling, for most countries it will fail to completely reverse the 6.7 percent contraction last year. “Furthermore, growth forecasts for the next two years sink to below 3 percent, returning to the low growth rates of the 2010s and fueling fears of another Lost Decade of development.”

Read the full story and statement.