Monday 28 December 2020

COVID-19 and the global economy

CNBC has five charts that show how the COVID-19 pandemic has affected the global economy.

The key points from the article:

  • Many countries went into months of lockdown in 2020 in a bid to stem the spread of Covid-19, which reduced cross-border travel and accelerated job losses.
  • Governments increased spending to cushion the economic damage, but are now left with a huge debt pile to reckon with in the coming years.
  • Meanwhile, central banks around the world slashed interest rates and purchased more assets to inject more money into the financial system.

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