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By Monica ADAMI, Analyst, Ghita ENNADIF, Analyst, Clare O’DONOHOE, Analyst, Jean DIEDERICH, Partner Alessandro ZAMBONI, Partner, Wavestone Luxembourg
Faced with the uncertainty of unprecedented challenges, the global economy is being heavily impacted by the COVID-19 pandemic. Beginning as a localised sanitary crisis, the COVID-19 pandemic has morphed into a global health crisis comparable to the Spanish flu pandemic of 1918. Amid this global contingency, the possibility of a recession looms over businesses and economies. The world stock markets have been gradually collapsing and becoming increasingly volatile, with the Euro Stoxx 50 losing over 8 points in a single day (March 9) and crude oil recording its biggest decline in over two decades. As yield...
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