Again, IMF warns world facing worst economic fallout since Great Depression

Managing Director , IMF, Kristalina Georgieva

The global coronavirus pandemic is causing an economic crisis unlike any in the past century and will require a massive response to help in the recovery, IMF chief Kristalina Georgieva said Thursday.

She warned that โ€œglobal growth will turn sharply negative in 2020,โ€ with 170 of the International Monetary Fundโ€™s 180 members experiencing a decline in per capita income.

โ€œIn fact, we anticipate the worst economic fallout since the Great Depression.โ€

Even in the best case the IMF expects only a โ€œpartial recoveryโ€ next year, and she urged governments to provide โ€œlifelinesโ€ for businesses and households to โ€œavoid scarring of the economy that would make the recovery so much more difficultโ€.

(AFP)

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