Global economy | OECD brands quick economic recovery 'wishful thinking'

The Organisation for Economic Co-operation and Development (OECD) has warned that the global economy will take years to bounce back from the COVID-19 pandemic.

According to the BBC, the OECD’s Secretary General, Angel Gurría, branded it “wishful thinking” for people to believe that countries would recover from the financial damage so quickly.

With numerous organisations including Trump Hotels, Topshop and Marriott International already shedding staff figures – and it is currently unclear as to how many more job losses will come as a result of the pandemic – Gurría said that the economic fallout could leave countries crippled “for years to come”.

He even said that this could result in some of the biggest global economies falling into a recession in the not too distant future.