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.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Danske Bank makes commitment to CO2 neutral loan portfolio by 2050

By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.

Further reading

Related articles

Trial banner

Latest news

See all jobs