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Global Cost of the Virus Could Reach $8.8 Trillion, ADB Says

  • Bank calls for sustained policy response to cushion the blow
  • As many as 242 million jobs may be lost, mostly in Asia: ADB
A woman walks on a pedestrian bridge in Wuhan, May 14.

A woman walks on a pedestrian bridge in Wuhan, May 14.

Photographer: Hector Retamal/AFP via Getty Images

Updated on

The cost of the coronavirus pandemic could reach as much as $8.8 trillion, or almost 10% of global gross domestic product, depending on how long the outbreak continues and the strength of government responses, according to the Asian Development Bank.

A shorter containment period of three months coupled with strong policy measures could limit the impact to $4.1 trillion, or 4.5% of world output, the Manila-based lender said in a report Friday. The Asia Pacific region is expected to account for about 30% of the overall decline in global output, it said.