FDI inflows dropped by 15% due to Corona Virus outbreak

The UN Conference on Trade and Development (UNCTAD) has stated that FDI inflows dropped by 15 percent due to Corona Virus outbreak. It warned that regardless of how quickly the COVID-19 outbreak lasted it would significantly drag down global FDI, which is a measure of cross-border private sector investment.

Daily Current Affairs Quiz 2020

The UN agency pointed to estimates that growth in the global economy will slow between 0.5 and 1.5 percent this year, depending on whether the outbreak is reined in during the first half of this year or if it rages through the end of 2020. Efforts to halt the spread of the virus, which has killed more than 3,500 people and infected more than 100,000 people around the world, have wreaked havoc on international business.