The world coronavirus pandemic is giving rise to a worst economic calamity unlike any in the past century and will require a huge response to help in the recovery, IMF chief Kristalina said Thursday 9.
She warned that “global growth will turn sharply negative in 2020,” with 170 of the International Monetary Fund’s 180 members experiencing a decline in per capita income.
“We anticipate the worst economic fallout since the Great Depression.”
Even in the good cause, the IMF expects only a “partial recovery” next year 2021, and she urged governments to provide “lifelines” for businesses and households to “avoid scarring of the economy that would make the regaining so much more difficult”. Read Here