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International Monetary Fund

Asia World Model United Nations

IMF: Global Economy Crisis: The Impact of Covid19 Outbreak


The phenomenon of Covid19 outbreak has affected every aspect of living for everyone around the world. There are several sectors that are hit very badly by the pandemic especially the economic sector. The global economic growth has decreased sharply since the beginning of 2020. This pandemic hits the low income countries harder and causes instability in financial development. More complex, the world is focusing on how to treat the covid19 outbreaks on the first hand and the slow progress of economic growth is inevitable. Governments all over the world have taken unprecedented action to fight the pandemic, to save lives, and to protect the society.