Accounting in a world reshaped by COVID-19
April 16, 2021 | 8:05 am
Special Features Writer
There are few things in history that have caused a titanic upheaval to modern society like the coronavirus disease 2019 (COVID-19). Aside from plunging the world economy into the worst global recession since the Second World War, according to the World Bank, the pandemic has also exacerbated the risks associated with a decade-long wave of global debt accumulation, as well as steepening the long-expected slowdown in potential growth over the next decade.
In his foreword to this year’s
Global Economic Prospects report, World Bank Group President David R. Malpass noted that “making the right investments now is vital both to support the recovery when it is urgently needed and foster resilience. Our response to the pandemic crisis today will shape our common future for years to come. We should seize the opportunity to lay the foundations for a durable, equitable, and sustainable global ec