Coronavirus could cost global economy $8.8trn

The forecast was predicated on a long containment period - or the time from when an outbreak intensifies in each country to when economic activity begins to normalise - scenario of six months. Under a shorter, three-month containment period, the losses to the global economy would likely come in at $5.8trn, or 6.4% of global GDP. The figures have been revised upwards from the $2trn to $4.1trn range the ADB estimated in its Asian Development Outlook report in early April. However, governments and central banks around the world have been quick to implement both fiscal and monetary sti...