IMF: Recession Due to COVID-19 to be Worse than 2009

The world is in the face of a devastating impact due to the coronavirus pandemic and has clearly entered a recession, the International Monetary Fund, but projected a recovery next year.

Key Features

  • IMF chief Kristalina Georgieva called on advanced economies to provide more support to low-income countries, which face a massive outflow of capital.
  • IMF warned finance ministers from the Group of 20 nations that the outlook for 2020 is negative -- a recession at least as bad as during the global financial crisis or worse.
  • The global economy contracted by 0.6 percent in 2009 as a result of the 2008 ....
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