‘Significant economic pain seems unavoidable’: World Bank forecasts coronavirus pandemic to hit growth in Asia

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The bank said precise growth forecasts were difficult. Photo: File WASHINGTON: The coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday. The bank said precise growth forecasts were difficult, given the rapidly changing situation, but its baseline now called for growth in developing economies in the region to slow to 2.1%

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