From the Summary: "Covid-19 [coronavirus disease 2019] is likely to cause much greater economic damage than any recent disease outbreak or economic crisis (Shretta, 2020). As of April 2020, the IMF [International Monetary Fund] is forecasting that the global economy is likely to contract by -3% in 2020 (IMF, 2020c, p. 1) and that 'the cumulative loss to global GDP [Gross Domestic Product] over 2020 and 2021 from the pandemic crisis could be around 9 trillion dollars', making it the worst economic downturn since the Great Depression (Gopinath, 2020). Economic recovery could be swift (the IMF currently forecasts that the world's economies will grow by 5.8% in 2021) (IMF, 2020c, p. 1) but this will require decisive and effective action to control the disease and restore economic activity including global value chains."
K4D Helpdesk Report 811; Knowledge, Evidence and Learning for Development Helpdesk Report 811
2020 DFID - Crown