Global recession now inevitable as coronavirus continues to spread: analysts – ZAWYA

Global recession now inevitable as coronavirus continues to spread: analysts – ZAWYA

It is inevitable that the world is going to fall into a recession this year, as the coronavirus continues to wreak havoc in more than 100 countries around the world, analysts have warned.. On Tuesday, Italy became the first country outside Asia to put millions of people on lockdown, while the United States has just announced it would suspend travel from 26 European countries.. According to Jameel Ahmad, global head of currency strategy and market research at FXTM, said the risk of a global recession is growing by the day as fears over the coronavirus intensify and new cases are being reported each day.. Among the economies, China is expected to witness a negative growth in the first three months of 2020, while countries in the Eurozone are also likely to experience the same.. Central banks around the world have less firepower left to intervene and spur economic growth if the spread isn't contained very soon," he added.. "Hopefully, a cure will be found or the virus can be contained within months, and this would raise hope of a recession becoming a short one in technical terms, but not like the scars that are still left from the global crisis