The Covid pandemic and the world’s lockdown have proven to threaten economies around the globe. World GDP is expected to fall??
The IMF headlines read—
A Global Crisis Like No Other Needs a Global Response Like No Other
- More complex, with interlinked shocks to our health and our economies that have brought our way of life to an almost complete stop;
- More uncertain, as we are learning only gradually how to treat the novel virus, make containment most effective, and restart our economies; and
- Truly global. Pandemics don’t respect borders, neither do the economic shocks they cause. Source: IMF
$10 Trillion Committed To Covid Economic Support
Major Governments’ economic responses to the crisis unprecedented with over $10 Trillion in U.S. Dollars committed to replace the economy lost to lockdowns and business losses.
In the first two months of the Covid pandemic crisis alone, the world’s central banks and governments have committed three times more than the response to the 2008–09 financial crisis. Here’s the full report
The IMF and the Federal Reserve continue in late November to urge government to substantially spend more to prevent the World economy not to spiral down into anther Great Depression.