$16 trillion loss in global wealth expected due to COVID-19, warns report

[Tanimariya]

Economic growth could suffer for up to five years, and financial guardians will increasingly turn to digital options to boost profits.
combination of market volatility and the economic fallout from the coronavirus pandemic could erase up to $16 trillion of global wealth this year, a study by Boston Consulting
Group, has revealed. But the resulting shakeup in the economic status quo could bode well for digital assets.
Read more: https://decrypt.co/32697/16-trillion-loss-in-global-wealth-expected-due-to-covid-19-warns-report

[Tranquility]

Honestly, this sounds like it's going to be a real long road to recovery. Something like this is going to take 4 or 5 years to recover from.

[lepbagong]

each country will certainly be different in responding to pandemic events like this, as well as their finances there will be differences for countries that have foreign exchange reserves with those that have been dependent on loans.

the biggest impact is for countries that have used loans to continue their economic growth, this impact will occur again with this pandemic. they will need more debt assistance either from large countries or IMF intervention.

After the pandemic they will focus on moving forward only to reduce the swelling debt, so countries like this will take a long time to rise and the economy can be stable, but not for big countries even though there is an impact they will be better prepared to rise after the pandemic is over