People watch from inside a shop as fumigation teams spray the street to prevent the spread of Covid-19 in Bangkok, Thailand on March 30, 2020. According to the World Bank,Thailand would be the worst hit by the Covid-19 pandemic in the region with -5 per cent growth. - Reuters
WASHINGTON (The Straits Times/ANN): In a bad case scenario, East Asia and the Pacific could see up to 11 million people driven into poverty, with low wage and informal sector workers the most vulnerable, the World Bank warns in a report on the economic impact of the Covid-19 pandemic.
The World Bank calculated two different scenarios for the region - a "baseline" referring to severe growth slowdown followed by a strong recovery, and a "lower-case" or a deeper contraction followed by a sluggish recovery.
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