Flash drought affects agricultural activities and water availability. However, the rate of flash drought development and termination and their controlling mechanisms remain mostly unexplored. Using climate reanalysis (ERA5) datasets, we examine the flash drought development and recovery rates in seventeen climate regions across the globe during the 1981-2020 period. In most global climate regions, flash drought recovery (25.2 percentile/pentad) is faster than its development rate (17.2 percentile/pentad). The tropical and sub-tropical humid areas, particularly eastern North America, northern South America, South Asia, Southeast Asia, and the Islands groups, are the hotspots of rapid flash drought development and faster recovery rates. In most climate regions, flash drought development and recovery rates have considerably increased during the recent two decades. Pluvial events (heavy-to-extreme precipitation) associated with increased soil moisture and decreased atmospheric aridity (VPD) are the primary driver of the rapid flash drought recovery. Globally, 10 of 17 regions showed the dominance of extreme precipitation in flash drought recovery, primarily due to an increase in the frequency of extreme precipitation. A fraction of flash droughts terminated by extreme precipitation has increased significantly across the most regions during 1981-2020. Considering the increase in flash drought frequency, development rate, and rapid termination, the compound risk of flash droughts followed by extreme precipitation and flooding has enhanced. The abrupt transition from flash drought to wet conditions makes drought and flood management more challenging, with consequences for agriculture and water resources.