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OECD cuts global forecast, warns governments to maintain support

The resurgence of the coronavirus pandemic has significantly halted the global recovery. The OECD now warns that things could get much worse if governments withdraws support too soon or fail to deliver effective vaccines.

Photo: Fabian Bimmer/Reuters/Ritzau Scanpix

The resurgence of the coronavirus pandemic has dramatically weakened the global recovery and it could get a lot worse if governments withdraw support too soon or fail to deliver effective vaccines, the OECD warned.

Cutting its 2021 global growth forecast to 4.2 percent from 5 percent in September, the Paris-based organization said a pattern of outbreaks and lockdowns is likely to continue for some time with rising risks of permanent damage.

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