ECONOMIC CHALLENGES DUE TO COVID-19...
We all know that lot of people lost their lives due to covid-19... When this kind of pandemics spread around the world, it also affects the economic status of the world.. Let's read to know about the economic crisis that our world is facing now.... Economic activity has been curtailed to enforce social distancing — an indispensable bullet in the coronavirus disease (Covid-19) war. The World Bank and the International Monetary Fund (IMF) warned that the virus is pushing the world economy into a recession worse than that after the 2008 financial crisis. Moody’s downgraded India’s GDP growth rate forecast for 2020 from 5.5% to 2.5%. A United Nations Conference on Trade and Development (UNCTAD) report titled The Covid-19 Shock to Developing Countries pleaded “governments to do whatever it takes” to stop economic contraction becoming a recession or worse, a prolonged depression, and to protect the poorest. United Nations secretary-general Antonio Guterre