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Coronavirus 'could cost global economy $8.8tn' says ADB

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  • Coronavirus 'could cost global economy $8.8tn' says ADB

    Coronavirus 'could cost global economy $8.8tn' says ADB




    The coronavirus pandemic could cost the global economy between $5.8tn and $8.8tn (£4.7tn-£7.1tn),
    according to Asian Development Bank (ADB).

    That's more than double last month's prediction and equates to 6.4%-9.7% of the world's
    economic output.

    It comes as measures to slow the spread of Covid-19 continue to paralyse economic activity
    around the world.

    Globally authorities have taken aggressive action to cushion their economies from the outbreak's
    impact.

    "This new analysis presents a broad picture of the very significant potential economic impact of
    Covid-19," the ADB's chief economist Yasuyuki Sawada said.

    "It also highlights the important role policy interventions can play to help mitigate damage to
    economies," he added.



    Access the details of this story here. : slotxo


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