GENEVA: The Covid-19 pandemic could provoke the deepest recession in living memory, World Trade Organisation (WTO) chief Roberto Azevedo warned on Wednesday.
"As we face what may well be the deepest economic recession or downturn of our lifetimes, we should aim to make the most of all potential drivers of sustainable growth to reverse this situation," he told a virtual news conference in Geneva.
Global trade growth is also expected to plummet by up to a third in 2020 due to the new coronavirus pandemic, it said, adding the numbers would be "ugly".
"World trade is expected to fall by between 13 per cent and 32 per cent in 2020 as the Covid-19 pandemic disrupts normal economic activity and life around the world," the WTO added.
"As we face what may well be the deepest economic recession or downturn of our lifetimes, we should aim to make the most of all potential drivers of sustainable growth to reverse this situation," he told a virtual news conference in Geneva.
Global trade growth is also expected to plummet by up to a third in 2020 due to the new coronavirus pandemic, it said, adding the numbers would be "ugly".
"World trade is expected to fall by between 13 per cent and 32 per cent in 2020 as the Covid-19 pandemic disrupts normal economic activity and life around the world," the WTO added.
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