COMBATING CHALLENGING TIMES AND MOVING FORWARD

By Jiz P Kottukappally Chief Executive Officer Yescalator Management and Financial Consultants

- Jiz P Kottukappally

“Tough times are inevitable in life and in business. But, how you compose yourself during those times defines your spirit and will define your future.” - Richard Branson

COVID-19 has no doubt brought the world to a standstill. The financial impact of Covid-19 could be much more painful and prolonged than the health impact it creates. The International Monetary Fund (IMF) has recently released its global growth projections, revealing that in the year 2020, the global economy is expected to plunge into the worst recession since the Great Depression. In fact, IMF estimates the impact to be far worse than the Global Financial Crisis and thus many of living now would not have seen adverse economic impacts of such magnitude. Just to give a sense the cumulative loss to the global GDP in the year 2020 and 2021 would be greater than the economy of Japan and Germany put together.