COVID-19 is worst crisis since World War II

UN Secretary-General Antonio Guterres has warned that the world faces the most challenging crisis since World War II. There is also a risk that the combination of the disease and its economic impact will contribute to enhanced instability, enhanced unrest, and enhanced conflict.

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The magnitude of the response must match the scale of the crisis large-scale, coordinated and comprehensive, with country and international responses being guided by the World Health Organization. The report also highlighted that International Labor Organization (ILO) estimates for the year 2020 which stated 5-25 million jobs will be lost, with a corresponding loss of between $860 million and $3.4 trillion in labor income. It pointed to the UN trade and development organization UNCTAD’s estimate of a 30-40% downward pressure on global foreign direct investment (FDI) flows in 2020.