LISBON – Joint Response Needed To Avoid A Global Recession. UN General Secretary, Antonio Guterres, on Sunday, urged governments to work together to stop the Novel Coronavirus COVID-19 pandemic from plunging the global economy into recession.
According to details, UN Chief and the former Portuguese prime minister wrote in an opinion article in the Publico daily. He said the following. “No country can face it alone. More than ever, governments must cooperate to revitalise economies and expand public investment. Promoting trade and ensuring that people and communities affected by the disease are support. The virus was infecting the global economy and had created a “real and growing risk of a global recession.”
The International Monetary Fund has said that the severity of the slowdown will depend on how long the virus outbreak lasts and how governments respond. Joint Response Needed To Avoid A Global Recession.
In January the fund was still projecting world GDP growth of 3.3 percent. However, that was before global disruptions, shutdowns and plunging oil prices. IHS Markit, an economics research firm, this week slashed its forecast for global growth to 1.7 percent.
Coronavirus has infected close to 160,000 people worldwide and killed more than 6,000, according to the latest AFP tally of official figures.