The Asian Development Bank (ADB) has projected the global economy to lose up to 88 trillion dollar due to the effects of the Covid-19 virus caused by the corona virus. This is more than twice the ADB's own projection last month.

The new projection is based on an update from the ADB headquarters in Manila on the potential impact of the Covid-19 epidemic on the economy. The report states that the minimum loss will be Rs 58 trillion and the maximum will be Rs 88 trillion.

The current projection of Covid-19 is projected to have a three-month and six-month economic impact, ranging from a maximum of 6.5 percent to 9.7 percent of global economic output.

According to the report, the Asia-Pacific region will suffer a short-term loss of 1.7 trillion to  2.5 trillion in three months, and China 1.1 trillion to 1.6 trillion.