From the Executive Summary: "'COVID-19 [coronavirus disease 2019] has triggered a global crisis like no other--a global health crisis that, in addition to an enormous human toll, is leading to the deepest global recession since the second world war. While the ultimate growth outcome is still uncertain, and an even worse scenario is possible if it takes longer to bring the health crisis under control, the pandemic will result in output contractions across the vast majority of emerging market and developing economies (EMDEs). Moreover, the pandemic is likely to exert lasting damage to fundamental determinants of long-term growth prospects, further eroding living standards for years to come.' [...] This edition of 'Global Economic Prospects' also includes analytical chapters on the short- and long-term growth impact of the pandemic, as well as on global implications of the recent plunge in oil prices."
2020 International Bank for Reconstruction and Development / The World Bank. Posted here with permission. Document is under a Creative Commons license and requires proper attribution and noncommercial use to be shared: [http://creativecommons. org/licenses/by/3.0/igo].
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