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The world economy is experiencing a deep recession amid a still-unchecked pandemic. Now is the time to hammer out a plan for global recovery, one that can credibly return even the most vulnerable countries to a stronger position than they were before. The status quo ante, is a goal not worth the name.

The COVID19 pandemic has caused a sharp decline in global trade, lower commodity prices, and tighter external financing conditions. Implications for current account balances and currencies vary widely across countries.

This new report from End Water Poverty and WaterAid, Common Purpose, Common Future, shows that the financing gaps for achieving universal access to safe water, sanitation and hygiene (SDG 6) and Agenda 2030—although large—can nevertheless be met.

Risk asset prices have rebounded following the precipitous fall early in the year, while benchmark interest rates have declined, leading to an overall easing of financial conditions.

Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast.

Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast.

According to the Asian Development Bank (ADB), Indonesia’s economy is expected to grow by 2.5% in 2020 amid the COVID-19 pandemic, down from 5.0% in 2019. The Economist Intelligence Unit (EIU) forecasted a 1.0% growth, and the International Monetary Fund (IMF) a 0.5% growth in 2020.

The International Monetary Fund (IMF) forecast in January that the global economy would grow by 3.3 percent in 2020, however its latest outlook, in April, now forecasts a contraction of 3.0 percent, with no upside scenarios and numerous risks.

The COVID-19 pandemic has created severe disruption in the global financial system, with many emerging market and developing countries (EMDCs) facing liquidity shortages.

The Coronavirus crisis could result in a catastrophic loss of life in poorer countries and push half a billion more people into poverty. Countries like the Central African Republic have just three ventilators for almost five million people, and Malawi has only a quarter of the nurses needed to provide healthcare for all.

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