Global markets and population morale are boosted by news that two vaccines against COVID-19 are more than 90% in clinical trials. However, while a solution to the health crisis is looming, a UNCTAD report, published on November 19 this year, warns that an effective vaccine will not stop the economic downturn, a process that will have long-term effects, especially for the poor and vulnerable. UNCTAD report, Impact of the COVID-19 pandemic on trade and development: the transition to a new normal, provides a comprehensive assessment of the economic consequences, predicting that the global economy will contract by 4.3% in 2020 and warning that this crisis could throw another 130 million people into extreme poverty.
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