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A Bird-Flu Pandemic Is Detrimental To Global Economic Growth: Report

by Medindia Content Team on  March 14, 2006 at 3:32 PM Corporate News   - G J E 4
A Bird-Flu Pandemic Is Detrimental To Global Economic Growth: Report
A Bird flu pandemic spells doom for global economic growth. According to bank economist Sherry Cooper, it is estimated that a pandemic could cause a dent of two to six percentage out of global economic growth. The effect could be felt in birth rate reductions and older populations, which will lead to continued labor shortages.
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Cooper, the chief economist at BMO Nesbitt Burns, has been getting Bay Street and investors to gear up for a possible pandemic. A report on the potential economic impact was released by Cooper, along with a study released by the IMF that said, "If the pandemic is severe, the economic impact is likely to be significant, though predictions are subject to a high degree of uncertainty".

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According to the IMF study report, "A pandemic similar to the 1918 Spanish flu could result in high level(s) of illness and death, and a sharp but only temporary decline in global economic activity. A severe pandemic could pose risks to the global financial system. Market operations could become more disorderly in the case of a breakdown in the trading infrastructure, leading to limited or intermittent trading."

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