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The World Economy on a Tightrope

The Organisation for Economic Co-operation and Development (OECD) Economic Outlook, June 2020 edition has been published. Not surprisingly, the COVID-19 pandemic has had a profound impact on the global economy and “has triggered the most severe economic recession in nearly a century and is causing enormous damage to people’s health, jobs, and well-being.” The OECD Outlook focuses on two possible scenarios—one in which a second wave of infections hits before the end of the calendar year, and one in which another major outbreak is avoided.