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Global cost of Covid-19 could top $4 trillion: Asian Development Bank
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MANILA : The coronavirus pandemic could cost the global economy $4.1 trillion as it ravages United States, Europe and other major economies, the Asian Development Bank warned on Friday The estimated impact is equivalent to nearly five percent of worldwide output based on a range of scenarios, but the lender said losses from "the worst pandemic in a century" could be higher. "The estimated impact could be an underestimate, as additional channels such as...possible social and financial crises, and long-term effects on health care and education are excluded from the analysis," the ADB said.
The Manila-based bank said a shorter containment period could pare the losses to $2 trillion. The crisis has sent equity markets spinning as traders fret
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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