The World Economic Forum’s Global Risks Report 2021 analyses the risks arising from societal fractures and assesses the ability of the global community to tackle the world’s greatest challenges requiring societal cohesion and global cooperation. The report also studies new risks that have emerged as a direct result of the COVID-19 pandemic.

In this bulletin, the Research and Forecasting Department of the Bank of Russia examines the financial market and monetary policy in the current conditions created by the pandemic.

Global growth is projected at — 4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast.