Economics
OECD Cuts Global Forecast, Warns Governments to Maintain Support
- Vaccine deployment will be key to longer-term recovery
- Report says now is not the time to worry about debt levels
This article is for subscribers only.
The resurgence of the coronavirus pandemic has dramatically weakened the global recovery and it could get a lot worse if governments withdraw support too soon or fail to deliver effective vaccines, the OECD warned.
Cutting its 2021 global growth forecast to 4.2% from 5% in September, the Paris-based organization said a pattern of outbreaks and lockdowns is likely to continue for some time with rising risks of permanent damage.