UN chief Antonio Guterres on Sunday urged governments to work together to stop the coronavirus pandemic from plunging the global economy into recession.
“No country can face it alone,” the secretary general wrotein an opinion article in the Publico daily.
“More than ever, governments must cooperate to revitaliseeconomies, expand public investment, promote trade and ensure that people andcommunities affected by the disease are supported,” he said.
The virus was “infecting the global economy,” he said. Thepandemic had created a “real and growing risk of a global recession,” theformer Portuguese premier said. The International Monetary Fund, which releasesits updated outlook on the world economy next month, has said that the severityof the slowdown will depend on how long the virus outbreak lasts and howgovernments respond.In January the fund was still projecting worldGDP growth of 3.3 percent, but that was before global disruptions, shutdownsand plunging oil prices. IHS Markit, an economics research firm, this weekslashed its forecast for global growth to 1.7 percent.