The World Trade Organization (WTO) Director General Roberto Azevedo warned on Thursday that the world is leading up to an economic crisis worse than that of 2008, due to the Covid-19 pandemic.

He referred that such a situation is amid the health emergency triggered by the deadly disease.

According to the official, such novel coronavirus threatens the lives of millions of people around the world, and even though it is a health crisis, it will have an unavoidable impact on economy, commerce, jobs and welfare.

He said that latest projections forecast a recession along with losing jobs worse than the financial crisis suffered 12 years ago.

On a WTO's message issued on Internet, Azevedo made this crucial warning, broadcast again by WTO's official channels.

He noted that many governments are implementing measures of fiscal and monetary stimulus that will rise defenses in the face of recession, but at the same time it is needed a global answer to the pandemic.

He insisted there is no self-sufficient country no matter how powerful and developed it be, alluding to the international market must continue open in hard times.

The comments of WTO's director general are previous to an extraordinary G20 summit this Thursday by videoconference to mitigate the effects of the pandemic in the world's economy.

Source: Prensa Latina

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