The International Monetary Fund sees the world economy suffering its worst recession since the Great Depression this year, with emerging markets and low-income nations in Africa, Latin America and Asia at particularly high risk.
The IMF’s baseline outlook is for a partial recovery in the global economy in 2021 if the pandemic fades in the second half of this year to allow a gradual lifting of containment measures, Managing Director Kristalina Georgieva said in the text of a speech set to be delivered on Thursday. She stressed that uncertainty about the coronavirus duration means things may wind up being even worse.
The International Monetary Fund sees the world economy suffering its worst recession since the Great Depression this year, with emerging markets and low-income nations in Africa, Latin America and Asia at particularly high risk.
The IMF’s baseline outlook is for a partial recovery in the global economy in 2021 if the pandemic fades in the second half of this year to allow a gradual lifting of containment measures, Managing Director Kristalina Georgieva said in the text of a speech set to be delivered on Thursday. She stressed that uncertainty about the coronavirus duration means things may wind up being even worse.
The IMF calculates that governments around the world have taken fiscal actions amounting to about $8 trillion, Georgieva said in a preview of key fund reports due to be released during next week’s meetings, including the World Economic Outlook.