The global economic landscape in light of the Corona pandemic (COVID-19)

Mohamed Ibrahim Bassyouni
2020 / 4 / 7

Warnings from the World Bank give a close-up of the global economic landscape. The bank announced that it expects the epidemic to seriously damage the efforts to combat poverty in Southeast Asia and the Pacific, and that more than 11 million people in this region will join the world s poor. The aforementioned strike constituted the expectation that more than 24 million people would be lifted out of poverty this year. That is, they will continue to live on less than -$- 5.5 a day. Note that this scenario is the most optimistic, while many scenarios indicate the high number of these people this year to very dangerous levels. What is important now is that no one can determine the prospects for the next stage as long as the deadly and rapidly spreading epidemic controls all parts of the globe. But what remains certain is that a major economic crisis appears on the scene in the coming period, perhaps more severe than the global crisis that exploded in 2008, which was said: It only occurs every 100 years.
  According to a UN report, countries in general can need more than -$- 2.5 trillion to cope with the economic crisis caused by the new epidemic of Corona s epidemic so far. These funds are not readily available, and require comprehensive addition action. Not forgetting that the major countries are also suffering the effects of the epidemic in a large and unpredictable way as well. And of course, it takes the end of the aforementioned epidemic strikes, in order for the comprehensive assessment of the losses to take place at all human, economic and other levels. The economic downturn has become apparent in the general scene, and there is no room other than stimulus, and this stimulus requires substantial funding. On this basis, it is expected that the expectations of the World Bank will be less than the facts that Corona will leave on the scene, when the world is putting an end to it, despite all indications that this day is not close. It is expected to result in the loss of more than 25 million jobs globally, as well as other serious impacts in the social field. No one knows the-limit-s of the losses that this regulation will cause on all health and economic levels and considerations.




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