Coronavirus outbreak could cost global economy up to USD 2 trillion: UNCTAD

The UN's trade and development agency United Nations Conference on Trade and Development (UNCTAD) reported that the coronavirus (Covid-19) cost the global economy up to $2 trillion in 2019.
The announcement was made by Richard Kozul-Wright, Director, Division on Globalization and Development Strategies at UNCTAD.
As per the report, the epidemic caused a recession in some countries and depress global annual growth to below 2.5%.
The economic uncertainty has likely cost the global economy $1 trillion in 2020.
A $220 billion hit the developing countries, excluding China.
The most badly affected economies because of the epidemic are oil-exporting countries. They lost more than 1% point of growth and those with strong trade linkages to the initially shocked economies.
Also, growth decelerations between 0.7% and 0.9% are likely to occur in the American countries such as Canada, Mexico, and the Central American region and countries in the East and South Asia, and immediacy of the European Union.