Global Economic Outlook During COVID-19
The COVID-19 has spread with alarming speed,infecting millions and bringing economic activity to a near-standstill as countries imposed tight restrictions on movement to halt the spread of the virus.S everal countries across the world resorted to lockdowns to “flatten the curve” of the infection. These lockdowns meant confining millions of citizens to their homes, shutting down businesses and ceasing almost all economic activity. According to the International Monetary Fund (IMF), the global economy is expected to shrink by over 3 per cent in 2020 – the steepest slowdown since the Great Depression of the 1930s. The pandemic has pushed the global economy into a recession, which means the economy starts shrinking and growth stops.T the economic damage is already evident and represents the largest economic shock the world has experienced in decades.F or emerging market and developing countries, many of which face daunting vulnerabilities, it is critical to strengthen public health systems...