Published 2022-02-27
Keywords
- Economic closure, global crisis, scenarios, Corona pandemic.
Abstract
The world has changed abruptly in the three months since the latest World Economic Outlook 2020 was released. The pandemic scenario has been raised as a possibility in previous discussions of economic policy, but it was not clear to any of us what the conditions would actually look like and what that might mean for the economy. We are now faced with a bitter reality, where an exponential increase in infection means we can go from 100 infected individuals to 10,000 infected within a few days. Tragically, the virus continues to claim so many lives and is spreading rapidly across the world. We owe a debt of gratitude to the medical professionals and paramedic teams who work tirelessly to save lives.