NEWS

World Bank Decries Inequity In Global Wealth Growth

The World Bank says global wealth has grown but at the expense of future prosperity and by exacerbating inequalities.

The Washington-based financial institution, in its new Changing Wealth of Nations report released recently, noted that although total wealth has almost doubled in Latin America and the Caribbean over the last two decades, there are significant contrasts in the trends of wealth per capita.

The World Bank added that countries that are depleting their resources in favor of short-term gains are putting their economies on an unsustainable development path.

Readers Bureau, Contributor

Edited by Jesus Chan

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