23/06/2020 (Agence Europe) – “The fall in trade we are now seeing is historically large - in fact, it would be the steepest on record”, WTO Director-General Roberto Azevêdo said on Monday 22 June, when the organisation’s quarterly forecasts were released, adding: “There is an important silver lining here: it could have been much worse”. In the second quarter of 2020, during the lockdown, the volume of merchandise trade is expected to have declined by around 18.5% year-on-year: a figure that is close to the “optimistic” scenario (13% contraction in trade). But “adverse developments” could betray these prospects - a new wave of the virus or widespread use of trade restrictions. To ensure the recovery, “fiscal, monetary, and trade policies will all need to keep pulling in the same direction”, Azevêdo urged. (HD)