Pandemic causing deep recession, and it could get worse, says IMF
The International Monetary Fund projects the cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis to be around US$9 trillion, greater than the economies of Japan and Germany combined. – EPA pic, April 15, 2020.
THE coronavirus pandemic is pushing the global economy into its deepest recession in a century, cutting world output by 3% this year, and the crisis could get worse, the International Monetary Fund said yesterday. The downturn will slash US$9 trillion from the world economy, IMF chief economist Gita Gopinath told reporters as she presented the latest forecasts in the World Economic Outlook.
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