Five Charts on the Euro Area’s Post-COVID-19 Recovery and Growth
An almost deserted square in Münster, Germany. A large second wave and new lockdowns are threatening the recovery in Europe. (photo: Rolf Vennenbernd dpa picture alliance Newscom)
By Nathaniel Arnold and Vina Nguyen IMF, European Department
December 22, 2020
The COVID-19 pandemic is creating severe social and economic hardship in Europe. While the extraordinary policy measures and lockdowns dampened the impact of the pandemic’s first wave, a large second wave and new lockdowns are threatening the recovery.
According to the IMF’s latest economic assessment of the euro area, the key policy challenge is to continue to counter the pandemic while facilitating a robust and inclusive recovery.
The following five charts illustrate the impact of COVID-19 on the euro area and the policies that will be needed to create a more durable recovery.
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