World economy to slide 6%: OECDThe COVID-19 pandemic has fragmented the world economy, Paris-based OECD said.
The “extraordinary uncertainty and unprecedented loss of income" will hit businesses and the most vulnerable, it said, prompting governments to take “extraordinary action" to protect people.
OECD has forecast a global economic slump of 6% this year, more than World Bank estimates earlier this week. This is if virus continues to recede.
If there is a second wave of infections, it could mean 7.6% contraction. It highlighted deepening fault lines created by the virus, including in social and health systems, and the capacity of governments to respond.