Developing economies could see sharper recession in 2020, World Bank warns

WASHINGTON (Reuters) - Senior World Bank officials on Friday warned that developing economies could see a deeper recession than currently expected if consumption and investment do not rebound quickly in the wake of the coronavirus pandemic.In a blog posting on the Bank's website, the officials said the preliminary baseline scenario forecast a "grim" 2% drop in economic output in developing countries - the first contraction in these economics since 1960. But it said growth outcomes could be..