The World Bank's chief economist, Carmen Reinhart, confirmed today, Thursday, that it may take five years for the global economy to recover from the crisis caused by the Corona pandemic.

"There will likely be a speedy recovery, given that all restrictions related to the general isolation measures have been lifted, but a full recovery will take up to 5 years," she said in a remote intervention during a conference in Madrid.

She added that the recession resulting from the pandemic will last longer in some countries compared to other countries, and will lead to an exacerbation of inequality, noting that the poorer groups will be more affected by the crisis in the rich countries, and the poorest countries will be affected more than their rich counterparts.

Reinhart added that for the first time in 20 years, global poverty rates will increase after the crisis.

On Thursday, the number of people infected with Coronavirus around the world exceeded the 30 million mark, according to the data of the "World Meter" website.

The United States tops the list of countries with 6 million and 828 thousand and 301 injuries, followed by India with 5 million 118 thousand and 253, then Brazil 4 million and 421 thousand and 868.

According to the same website, the virus has led to the death of 945 thousand and 92 people, while 21 million and 804 thousand and 30 patients have recovered, and 7 million 287 thousand and 746 people are still suffering from infection.

China is the first survivor

On Wednesday, the Organization for Economic Cooperation and Development said that the global economy appears to be recovering from the downturn caused by the Coronavirus pandemic more quickly than was thought a few months ago, thanks to improved prospects for China and the United States.

The organization expects China to be the only country in the Group of Twenty major economies that will witness growth this year, with an increase of 1.8%.

It also expected the US economy to be better off this year than previously thought, and to witness a contraction of 3.8%, which is considered a severe deterioration, but it is still much better than a previous forecast of a contraction of 7.3%, to grow next year by 4%, according to the organization's report.

Yesterday, the Federal Reserve said - after keeping interest rates at near zero - that the Coronavirus pandemic continues to put pressure on the economy, which nevertheless raised its expectations for it in the near term.

And in Europe, Germany will record better numbers than the entire euro area, with expectations of a contraction of 5.4% in the economy, compared to a contraction of 7.9% for the single currency area, according to the organization’s report.

The French economy is also expected to record a contraction of 9.5%, the Italian economy of 10.5%, and the British economy 10.1%, according to the Economic Cooperation Organization.