The World Bank says despite a strong rebound in 2021, the global economy is entering a “pronounced slowdown” due to fresh threats from COVID-19.
Other factors are the rise in inflation, debt and income inequality capable of endangering the recovery in emerging and developing economies.
The World Bank, led by David Malpass, released its Global Economic Prospects report on Tuesday.
The report says global growth is expected to decelerate markedly from 5.5 percent in 2021 to 4.1 percent in 2022.
For 2023, the year will dally by 3.2 percent as pent-up demand dissipates, and as fiscal and monetary support is unwound across the world.
The institution found that the rapid spread of Omicron indicates that the pandemic will likely continue to disrupt economic activity.
“In addition, a notable deceleration in major economies—including the United States and China—will weigh on external demand in emerging and developing economies”, the report noted.
The World Bank warns that with developing economies lacking the policy space to support activity, new COVID-19 outbreaks, supply-chain bottlenecks, inflationary pressures and financial vulnerabilities may increase the risk of a hard landing.
“The world economy is simultaneously facing COVID-19, inflation, and policy uncertainty, with government spending and monetary policies in uncharted territory.
“Rising inequality and security challenges are particularly harmful for developing countries.
“Putting more countries on a favorable growth path requires concerted international action and a comprehensive set of national policy responses”, said President David Malpass.
The World Bank forecast came days after the discovery of Deltacron in Cyprus by a researcher and his team.
Leondios Kostrikis, Professor of Biological Sciences at the University of Cyprus, said the new strain is a combination of delta and omicron.
Weeks earlier, IHU, also a new variant, was detected in France. Dozens of cases were reported near the South of Marseille.
The index case was a fully-vaccinated man who returned from a visit to Cameroon in November 2021. The country shares border with Nigeria.
Shortage of dead bodies affecting study of Anatomy in Nigerian medical schools – Prof. Ajao
A medicine expert has decried the scarcity of cadavers for the study of anatomy and practical classes in medical schools.
Prof Moyosore Salihu Ajao, a professor of Anatomy at the University of Ilorin raised the issue while delivering the 214th Inaugural Lecture of the university.
The Professor of medicine emphasised that the challenge is more difficult because dead bodies are not sold in the market in any part of the world.
“The first major challenge I noticed on my assumption of office as a young lecturer in the department of anatomy was the chronic shortages of cadavers in the department and after a quick check on other universities, I discovered that we are not alone in the struggle to get bodies fit enough for dissection at practicals.
“The National Universities Commission recommends an average of eight students per body in Nigeria.” the scholar said.
He explained that the study of human anatomy cannot be fully understood from written descriptions of dimensional pictures or plastic models.
Prof. Ajao citing one of his investigations explained that there are different causes of scarcity in the Nigerian Medical Institutions which reflects a poor ratio of students to cadavers during the studies in medical schools in Nigeria.
Despite the lack of materials for the study of medicine, Professor Ajao said there is increasing pressure to produce more doctors in Nigeria.
”The pressure to produce more doctors keep mounting every year while the provision of facilities including cadaver supplies are limited in the country”, Prof Ajao said.
Cross River govt harps on need for individual health insurance
Cross River State government has emphasised the need for residents and indigenes to have health insurance in the state.
Commissioner for health in the state, Dr Betta Edu in a New Year message, said the Health Insurance Scheme (CRSHIS) otherwise called Ayadecare is mandated to ensure that people get the same level of healthcare, which will ultimately lead to a healthier workforce and longer life expectancy through a monthly financial subscription.
She said health insurance is a safety net because it makes it easier for an enrollee to access routine and preventive health care and provides an insurance plan for enrollees to navigate the confusion of medical billing, high out of pocket expenses that may be catastrophic.
Calling for continued caution by people as COVID-19 spreads its new variant, she said, “I want to encourage us all to keep giving our best to prevention testing and vaccination and should remain relentless in keeping safe.
“We will continue to ensure that our endeavours remain consistent with global best practices of healthcare delivery targeted at overcoming the pandemic.”
According to her, they have expanded on already existing strategies and structures to grow and further strengthen the healthcare system across the state.
Edu reassured that the state will remain committed to ensuring quality, cost-effective and timely health services.
Resident doctors reject FG’s new hazard allowance
The National Association of Resident Doctors (NARD), have rejected the new hazard allowance announced by the federal government for medical doctors and health workers in the country.
The government increased the allowance for doctors from N5,000 to between N32,000 and N40,000 while other health workers like nurses, laboratory workers among others had theirs reviewed to between N15,000 and N34,000 respectively.
A circular with reference number SWC/S/04/S.218/11/406 dated December 22, 2021, and signed by the Executive Chairman of the National Salaries, Wages and Income Commission stated, “Concerning the review of the hazard allowance applicable to health workers in the services of the federal hospitals, medical centres and clinics in ministries, departments and agencies, the hazard allowance was reviewed to a flat rate that ranges from N5,000 to between N15,000 and N34,000 for health workers on the CONHESS salary structure, while doctors on CONMESS had theirs reviewed from N5,000 to between N32,000 and N40,000.”
But the position of the National Association of Resident Doctors’ position in a statement issued by Dr Godiya Ishaya; its National President, indicate the medical union is not satisfied with the review.
The association enjoined the Federal Government to review the rate to prevent the need for further negotiations in the future.
Burkina Faso: Military won’t step down now – Coup leader
The military in Burkina Faso says they will remain in power until the conditions are right. Lieutenant Colonel Paul-Henri Damiba,...
Biafra: Why Nnamdi Kanu should not be released – Asari Dokubo to Buhari govt
Former Niger Delta militant leader, Asari Dokubo, has given reasons why the Federal Government should not release Nnamdi Kanu, the...
Biafra: Mind your utterances, you are not Igbo – IPOB warns Asari Dokubo
The Indigenous People of Biafra, IPOB, on Friday, cautioned Asari Dokubo, a former militant leader in the Niger Delta over...
Terrorism: I will emerge victorious – Nnamdi Kanu vows to defeat Buhari govt
Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB, on Friday expressed optimism that he would emerge victorious over...
UAE to lift entry ban on Nigerian travellers from January 29
The United Arab Emirates (UAE) has confirmed it will resume passenger flights from Nigeria and 11 other African countries from...
Sports7 days ago
BREAKING: AFCON 2021: 12 Tunisian players, head coach to miss Nigeria match
Politics7 days ago
Uzodinma does not have what it takes to govern in a democracy. – Okorocha
Metro7 days ago
Angry mob set Police barrack in Kogi ablaze over killing of young boy
News7 days ago
Real reason Sunday Igboho should not be released – Seriki Fulani
Politics7 days ago
2023: Ex Zamfara governor, Yarima declares intention to run for president
Metro7 days ago
2 suspected kidnappers killed, 2 victims rescued in Adamawa
Entertainment7 days ago
Why most veteran actors are off the screen – Nollywood actor, Emeka Ossai
News1 week ago
2023: ’Tinubu will disappoint Sanwo-Olu, Muslim won’t take it easy with Christians’ – Primate Ayodele