There is an expanding sea of red ink as far as one can see in the context of a generalised deep recession in which most countries’ gross domestic product (GDP) is expected to decline between (-) 3 and (-) 10 per cent.
This is one key feature of the global economic picture that is emerging — making the Covid-19 outbreak not only an unprecedented pandemic in modern times, but also an economic, political and leadership challenge of planetary dimension. The response to the crisis has been an extraordinary effort by governments to mobilise monetary and fiscal policy tools to ...
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First Published: Mon, April 27 2020. 23:36 IST
