Category: Global recession

IMF estimates global Covid cost at $28tn in lost output

World economic outlook says 2020 impact is less than thought but there will be deep scarsThe International Monetary Fund has scaled back its estimate of the hit to the global economy from Covid-19 this year but warned that the...

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UK to plunge into deepest slump on record with worst fall in GDP among G7

Official measure to be declared this week as coronavirus lockdown shrinks GDP by 21% in second quarterBritain’s economy will be officially declared in recession this week for the first time since the 2008 financial crisis,...

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