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The OECDs Worry About The Crumbling Global Economy

Mar 23, 2020 08:00 PM
The OECDs Worry About The Crumbling Global Economy Africa Business Radio, Coronavirus, OECD, Economic crisis, Africa Business News

The Organisation for Economic Co-operation and Development has warned that the world will take years to recover from the coronavirus pandemic. OECD secretary-general, Angel Gurría, said the economic shock was already bigger than the financial crisis. He told the BBC it was "wishful thinking" to believe that countries would bounce back quickly. The OECD has called on governments to rip up spending rules to ensure speedy testing and treatment of the virus. Mr. Gurría said a recent warning that a serious outbreak could halve global growth to 1.5% already looked too optimistic.

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