The coronavirus pandemic could cost the global economy $4.1 trillion as it ravages United States, Europe and other major economies, the Asian ...
With billions of people in lockdown around the world, the global economy has almost come to a standstill. MANILA: The COVID-19 pandemic could cost the global economy US$4.1 trillion as it ravages the United States, Europe and other major economies, the Asian Development Bank warned on Friday .
Officially reported COVID-19 cases worldwide topped the one million mark on Thursday, with tens of thousands dead, while there are warnings the numbers will continue to balloon as the disease rapidly spreads.With billions of people in lockdown and economies at a standstill, the ADB said Asia is forecast to grow 2.2 per cent this year, its slowest pace since a 1.7 per cent expansion during the Asian financial crisis in 1998.
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