Daily Management Review

Moody's: Impact of pandemic shocks on global economy will extend beyond 2021


Moody`s assessed the prospects of the negative consequences of the coronavirus COVID-19 on the global economy. According to the international rating agency, the impact of the pandemic shocks will continue in 2021 and beyond.

"The consequences of the pandemic and the measures taken by states to contain them have caused economic, financial and social shocks that will last until 2021 and beyond," the study says.

According to Moody's analysts, in the short term, countries with low credit ratings will be hit hardest. At the same time, in the medium term, all states will face more complex political issues caused or aggravated by the crisis.

According to the agency's estimates, this year only China will be able to avoid a drop in GDP among the world's major economies. In other G20 countries, Moody's expects a 4.6% fall in the economy by the end of 2020. In 2021, agency experts expected the G20 economy to grow by 5.3%.

source: moodys.com