World Economic Outlook, April 2021: Managing Divergent Recoveries

World Economic Outlook, April 2021: Managing Divergent Recoveries

After-Results of the COVID-19 Pandemic: Prospects for Medium-Time period Financial Harm

This chapter examines the doable persistent injury (scarring) that will happen from the COVID-19 recession and the channels by means of which they could happen. Importantly, monetary instabilities—usually related to worse scarring—have been largely prevented within the present disaster to date. Whereas medium-term losses are anticipated to be decrease than after the worldwide monetary disaster, they’re nonetheless substantial, at about three % decrease than pre-pandemic anticipated output for the world in 2024. The diploma of anticipated scarring varies throughout international locations, relying on the construction of economies and the scale of the coverage response. Rising market and growing economies are anticipated to endure extra scarring than superior economies.

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