COVID-19: Report warns of lost decade

COVID-19: Report warns of 'lost decade' if countries adopt austerity

In the face of a deep global recession amid a still unchecked pandemic, the world needs a global recovery plan that can return even the most vulnerable countries to a stronger position than they were in before COVID-19. Fiscal austerity and corporate cost-cutting would only worsen the globe's pre-existing conditions before the coronavirus hit, which include hyper-inequality, unsustainable levels of debt, weak investment and wage stagnation.

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