UN economists forecast drop of up to 15% in FDI worldwide

The rapid spread of the deadly Novel Corona virus is expected to take a serious toll on foreign direct investments worldwide, with UN economists forecasting a drop of up to 15 percent.

A fresh report from the United Nations Conference on Trade, Investment and Development (UNCTAD) warned that regardless of how quickly the COVID-19 outbreak lasted, it would significantly drag down global FDI, which is a measure of cross-border private sector



investment.

Efforts to halt the spread of the virus, which has killed more than 3,500 people and infected more than one lakh people around the world, have wreaked havoc on international business.

The UN agency pointed to estimates that growth in the global economy will slow between 0.5 and 1.5 percent this year, depending on whether the outbreak is reined in during the first half of this year or if it rages through the end of 2020.