So now under the assumption that the
pandemic and required containment
peaks in the second quarter,
in most countries in the world and then
recedes in the second half of this year,
we are projecting global growth in 2020
to fall to -3%.
Now this is a downgrade of 6.3% points from January 2020.
A major revision over a
very short period of time.
This makes the great lockdown the worst
recession since the Great Depression
and far worse than the global financial
crises.
