Global economy to shrink 6% in 2020 on coronavirus pandemic: OECD

The global economy is projected to shrink 6.0 percent in 2020 from the previous year, the Organization for Economic Cooperation and Development said Wednesday, labeling the new coronavirus pandemic as the worst economic crisis since World War II.But the world would see a 7.6 percent contraction in 2020 in a worst-case scenario in which a second wave of infections rapidly occurs later this year, the organization said in its economic outlook report.The projections compare with growth of 2.4 percent estimated by the OECD in March.The projection of a 6.0 percent contraction was presented based …READ FULL ARTICLE