World Bank to support emerging economies as growth stumbles

Here is why you should pick up a copy of The Guardian on Thursday. Find these stories and much more when you grab a copy of The Guardian on the newsstands on Thursday.

Wild animals spring to mind when it comes to conservation across Africa. But COVID-19's disruption of conservation is also destroying the continent's most sustainable economic treasures in rural areas.

The World Bank says the global economy is facing its deepest recession since World War II as a result of the coronavirus pandemic. Advanced economies are set to shrink 5 percent, while emerging economies are facing their first contraction in decades. Franziska Ohnsorge, lead author of the 2020 Global Economic Prospects report, tells FRANCE 24 that millions of people working in an informal capacity could slip into poverty despite government support. Also in the show: BP announces plans to slash 10,000 jobs as OPEC extends its oil production cuts.

The World Bank says the collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa for more.

The World Bank says the outbreak of the COVID-19 pandemic is expected to push five million more Nigerians into poverty this year as the pandemic is threatening the ability of Nigerian households to generate income to meet their basic consumption needs. Bismarck Rewane, CEO of Financial Derivatives joins me from Lagos for this conversation.

The economic damage caused by the virus pandemic is expected to tip thousands of companies across the world into insolvency this year. As governments dig deep to stem the looming tide, their policies differ widely.

The swearing-in ceremony for the newly re-elected President of the African Development Bank, Akinwumi Adesina has been concluded in Abidjan Cote div’oire. Chamberlain Peterside, CEO of Xcellon Capital Advisors joins CNBC Africa to examine Nigeria’s economic prospects and the role of development banks in building resilient economies on the continent.

Here are a few reasons to pick up a copy of The Guardian on Monday. Find these stories and much more when you grab a copy of The Guardian on Monday.

Extreme poverty is set to rise this year for the first time in more than two decades, with coronavirus expected to push up to 115 million people into that category, the World Bank has said.

Here are a few reasons to pick up a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on Saturday.⁣⁣⁣⁣

The World Bank has downgraded its previous prediction for global growth in 2021 to 4 percent. The organisation warned of a subdued recovery that could lag even further if countries do not stem the rise in coronavirus infections and effectively deploy vaccines. The European Union is also starting to look ahead to how to spend its recovery fund – with the largest recipient, Italy, on the brink of political crisis.

The global economy is heading for its strongest – but most uneven – recovery on record. The World Bank has warned that more international cooperation is needed to ensure more equitable distribution of Covid-19 vaccines to help developing economies rebuild. Franziska Ohnsorge, Manager of the Prospects Group at the World Bank, says that vaccinations and economic recovery will go hand in hand. Also in the show: French gyms prepare to reopen after being closed for more than seven months.