Coronavirus ‘could cost global economy $8.8tn’

The coronavirus pandemic could cost the global economy between $5.8tn and $8.8tn (£4.8tn-£7.2tn), 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.

 

 

– BBC

About Delia Innoma

Delia Innoma is a prolific writer, promoter, artist manager with full professional proficiency in English, German and Igbo languages. She studied accounting and computer programming at the Institute of Management and Technology Enugu and Germany respectively. Delia is also a devoted mother of two and she founded the Diamond Celebrities Magazine. Her sense of responsibility and commitment to the Christian faith are essential forces driving her daily activities.

One Response to “Coronavirus ‘could cost global economy $8.8tn’”

  1. *I’m Disappointed In Your Choice Of Chief of Staff, You And Your Generation Don’t Mean Well For The Younger Ones — Showunmi Tells Buhari*
    Read more at: https://weetalknaija.com.ng/news/im-disappointed-in-your-choice-of-chief-of-staff-you-and-your-generation-dont-mean-well-for-the-younger-ones-showunmi-tells-buhari.html

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