The Downfall of the World Bank

As the world experiencing this pandemic. Every country is struggling with financial support. To support their fellow people. We’re not prepared in this pandemic even if we think we are. We are not. Almost all have lost their jobs, Closed their business, and many more. The government is our only hope in this pandemic. Of course, almost all of the government never see this pandemic coming so they need to think of a possible solution to make money or borrow to the world bank.

The World bank was starting to decrease due to the pandemic, not just this year but also in the 1940s. In an updated “Global economic prospects,” The world bank projected that global economic activity will shrink by 5.2 percent this year, the deepest recession since a 13.8 percent global contraction in 1945-1946 at the end of world war II. This year will be the 4th worst global downturn over the 150 years. If this pandemic will go on we need to find ways to live and be healthy because this pandemic is not a joke it affects all of us. Sadly, when this pandemic will have its second wave the growth of this bank will fall more and more. This will result in extreme poverty, more unemployed people, more companies will be closed. The world bank that our country hopes been decreasing more than seven decades. If the time comes the world bank cannot lend more money to every country due to this pandemic. Hopefully, this pandemic would end if not may we all accept the new normal.