COVID-19 pandemic costs global economy $375 billion a month, WHO says – CNN Philippines

COVID-19 pandemic costs global economy $375 billion a month, WHO says – CNN Philippines

(CNN) – The COVID-19 pandemic costs an estimated $375 billion a month globally, the World Health Organization (WHO) said, based on information from the International Monetary Fund.

During a Thursday news conference, Tedros Adhanom Ghebreyesus, WHO’s director-deneral, said, “IMF estimates the pandemic costs the global economy 375 billion US dollars a month, and predicts a cumulative loss to the global economy over two years of over 12 trillion US dollars.”

“The world has already spent trillions dealing with the short term consequences of the pandemic,” Tedros added.

“G20 countries alone have mobilized more than 10 trillion US dollars in fiscal stimulus to treat and mitigate the consequences of the pandemic. That’s already more than three and a half times as much as the world spent in the entire response to the global financial crisis,” he said.

Tedros said that funding the WHO’s ACT Accelerator is “the best economic stimulus the world can invest” in.

“The accelerator is the only up and running global initiative that brings together all the global research and development manufacturing regulatory purchasing and procurement needed for all the tools required to end the pandemic,” he added.

This story was first published on CNN.com, “COVID-19 pandemic costs global economy $375 billion a month, WHO says”

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