Pakistan: Confirmed coronavirus cases touch 16

Special Assistant to Prime Minister on Health Dr Zafar Mirza tweeted: "I can confirm 9 new cases of #COVID19 in Karachi. All these cases are contacts of an already confirmed case. Further contacts are being traced and tested. This makes a total of 16 cases in Pakistan."

Apart from the tragic human consequences of the COVID-19 coronavirus epidemic, the economic uncertainty it has sparked will likely cost the global economy $1 trillion in 2020, the UN’s trade and development agency, UNCTAD, said on Monday.

“We envisage a slowdown in the global economy to under two per cent for this year, and that will probably cost in the order of $1 trillion, compared with what people were forecasting back in September,” said Richard Kozul-Wright, Director, Division on Globalization and Development Strategies at UNCTAD.

Launching the UNCTAD report as world financial markets tumbled over concerns about supply-chain interruptions from China, and oil price uncertainty among major producers, Mr. Kozul-Wright warned that few countries were likely to be left unscathed by the outbreak’s financial ramifications.