News Coronavirus watch16 Mar 2020

Reinsurer expects global recession this year given COVID-19 pandemic

The global economy has been significantly plagued by the coronavirus pandemic, tightening financial conditions and existing weak economic resilience. Therefore, Swiss Re Institute's latest sigma research report anticipates a global recession with growth well below 2% for the year and no V-shaped recovery which is characterised by a sharp economic decline followed by a quick and sustained recovery.

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