Corona impacts on trading
CORONA IMPACTS ON TRADING The Covid-19 virus is severely affecting international trade, creating a negative economic outlook. Consequently, the global economy is receiving its sharpest reversal since the Great Depression, IMF warns. “This is a crisis like no other,” suggests Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). “Never in the history of the IMF have we witnessed the world economy coming to a standstill,” she said. “It is way worse than the global financial crisis.” A strong, shared, transparent information base is critical in underpinning sound national policy responses and the international co-operation to keep trade flowing. It will be critical that countries honour their commitments to notify trade-related measures taken in response to COVID-19 to the World Trade Organisation (WTO). The OECD is sharing information on trade-related country actions on COVID-19 with WTO colleagues, and assessi