Fears variant will amplify shortages, driving up inflation, or even force repeat of earliest phase of pandemic
Western governments could be forced to bring in fresh emergency financial support for businesses and households if the Omicron coronavirus variant causes a severe global slowdown, a leading economic thinktank has warned.
Sounding the alarm as more cases are identified, the Organisation for Economic Co-operation and Development (OECD) said a renewed wave in the pandemic threatened to add to the existing strain on the world economy from persistently high levels of inflation.
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Source: The Guardian