Global economy to shrink 5.2% this year due to coronavirus pandemic

The global economy, which has plunged into a severe contraction, will shrink by 5.2 per cent this year due to the massive shock of the coronavirus pandemic and the shutdown measures to contain it, the World Bank said Yesterday. The coronavirus recession is the first since 1870 to be triggered solely by a pandemic, World Bank President David Malpass said in his foreword to the latest edition of the Global Economic Prospect report released in Washington Yesterday. According to the report, economic...