World economy loses টে 26 trillion in Covid crisis, shrinks 4.4 percent this year
Rashid Riaz: The International Monetary Fund (IMF) says the loss in Kovida will cause permanent damage to global livelihoods. The Washington-based global economic watchdog says the Kovid epidemic has had a negative impact on the economy since the death toll exceeded one million. The issue of economic recovery is now a long-term one and is becoming increasingly uncertain, according to the IMF. Geeta Gopinath, the agency’s top economist, said recovery from the Covid crisis could become increasingly protracted, uneven and uncertain. The losses in the Covid recession will exceed ৮ 26 trillion by the middle of the next decade, which is larger than the US economy.
Gita Gopinath said the development of these countries would be severely hampered as the standard of living of all countries would go down due to the Covid Recession. The crisis has made investment uncertain, created problems in the balance of the economy so that human resources will be wasted and it will take a long time to heal the labor market. To deal with this crisis, all countries will have to go through a long period of unequal and uncertain times which will be endlessly prone. This path of a troubled friend will be covered in a cloudy sky of uncertainty. Its speed depends heavily on vaccines and the health system, and it could be worse if the outbreak of the virus increases again. The IMF says the global economy will shrink by 4.4 percent this time around. But in June, the IMF feared the world economy would shrink by 5.2 percent this year. However, it is feared that the partial withdrawal of the lockdown in the second quarter has reduced the damage to the economy.
The IMF thinks the second-quarter recession was not as severe as previously feared. The revocation of the lockdown around the world has made it possible for the economy to recover more than expected. But if the world economy shrinks by 4.4 percent by the end of this year, that means going back to the Great Depression of the 1930s. At the same time, the IMF warns that the economy is recovering at a slightly slower pace than previously thought. The situation could be further exacerbated by the resurgence of covid in Europe and the United States and the imposition of lockdowns. Bank of England Governor Andrew Bailey has similar concerns, saying the targets are still a long way off. But after the withdrawal of the lockdown last March, Britain’s economy began to recover. But a second-degree virus outbreak in the country has sent shockwaves through the country. Like France, the IMF predicted that Britain’s economy would shrink by 9.7 percent this year. Earlier in June, the size of the British economy shrunk by 10.2 percent. However, there is a difference of opinion that the size of the British economy will not decrease by more than 6.3 percent this year.
Italy’s economy is the worst in the G-7 group. Britain’s economy is set to recover 5.9 percent next year. At a higher rate than in European countries. Therefore, the IMF says that without the unprecedented financial and regulatory measures of different countries in the development of family income and business, it may not be possible to survive and prevent financial catastrophe. The IMF said that countries that have been working together since the beginning of the Covid recession have begun to reap the benefits.