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Outbreak’s Global Economic Cost May Top $4 Trillion

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A woman walks through an empty pedestrian crossing in the Ginza shopping district Friday, April 3, 2020, in Tokyo. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo/Eugene Hoshiko)

The Asian Development Bank forecasts that the coronavirus pandemic will cost the world economy as much as $4.1 trillion, or nearly 5% of all economic activity. The regional lender said Friday that growth in developing Asia would likely fall to 2.2% in 2020 from 5.2% last year. Finance officials in China have promised to ensure that entrepreneurs who are China’s economic engine get the loans they need to recover from the coronavirus pandemic. And in France, one of the largest auto insurers says costs are crashing as drivers stay home in coronavirus shutdowns. Accidents are down by as much as 80% as people keep their cars parked.

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