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U.N. warns of US$2 trillion losses to virus

Trade economists who advise the U.N. warned COVID-19 could cost the world economy up to US$2 trillion in 2020 and push nations into recession.

GENEVA (AN) — Trade economists who advise the United Nations on policies for developing countries warned on Monday the COVID-19 outbreak could cost the world economy up to US$2 trillion in 2020 and push some nations into recession.

The U.N. Conference on Trade and Development published a 10-page analysis suggesting the hit to global income will be US$1 trillion at minimum even if the worst is avoided, but is likely to be worse.

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