11:11 - 12.12.2024

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December 12, Fineko/abc.az. A new pandemic could damage the global economy in the amount of $13.6 trillion over five years.

ABC.AZ informs that this forecast was presented by British insurance market Lloyd's of London.

The report notes that the main reason for the losses will be disruption of the industrial sectors due to local lockdowns and global travel restrictions.

According to an analysis by Lloyd's and the Cambridge Risk Research Center, in the case of the worst-case scenario, losses could reach $41.7 trillion, which would lead to a decrease in global GDP by 1.1-6.4%. In a more optimistic scenario, losses will amount to $7.3 trillion.

Analysts emphasize that the COVID-19 pandemic and the subsequent lockdowns caused serious disruptions on a global scale, and these consequences are still being felt in inflationary pressures. This situation has also led to legal disputes about whether business losses are included in insurance coverage.

Although Lloyd's does not disclose the economic cost of the COVID-19 pandemic, it is reported that the insurance industry has developed special coverage mechanisms in the event of new infectious diseases, cancellations due to the pandemic, as well as for the development, storage and transportation of vaccines.