Journal of Management Information and Decision Sciences (Print ISSN: 1524-7252; Online ISSN: 1532-5806)


COVID-19: Impact on global economy, steps taken and way forward

Author(s): Isaac, K. S., Ibidunni, A., Kehinde, O. J., Elizabeth, K. B., Oyo-Ita, D., Mathias, C. M., & Boluwatife, O. F.

Since the mass outbreak of the novel coronavirus disease (COVID-19), countries and world economies have been brought to their knees. Developed and developing economies, multinationals, conglomerates, index funds, global stock markets have recorded unprecedented losses over the course of the pandemic period. This has led to a slowdown in economic growth and some fear that if it persists and is not contained effectively, the world could be looking at a global recession. This paper hopes to look into the impact of the novel COVID-19 virus on the global economy, it's effects, what steps are being taken and future prospects.

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