The World Bank has confirmed that Guinea and Sierra Leone will go into recession. The bank says Liberia, Sierra Leone and Guinea will have lost over 2 billion US dollars in the 2014-2015 fiscal years. This year alone, the countries have lost around 500 million US dollars in shuttered businesses and loss of investment. That in turn has forced cutbacks to official spending for investment and services. The World Bank says a fully-fledged financial recovery plan for the affected countries is crucial.
Posted on: Tue, 02 Dec 2014 13:41:43 +0000
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