IMF forecasts a partial recovery of the global economy in 2021

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Posted by: Rusica Viorica

News / International

10 Apr. 2020 / 19:16

IMF forecasts a partial recovery of the global economy in 2021

The coronavirus pandemic will push the global economy into the deepest recession since the Great Depression, with the world's poorest countries suffering the most, the head of the International Monetary Fund said Thursday, AP reports.

“We anticipate the worst economic fallout since the Great Depression,” IMF Managing Director Kristalina Georgieva said Thursday in remarks previewing next week’s virtual meetings of the 189-nation IMF and its sister lending organization, the World Bank.

She said that the IMF will release an updated world economic forecast on Tuesday that will show just how quickly the coronavirus outbreak has turned what had been expected to be a solid year of growth into a deep downturn.

Georgieva said there was no question that 2020 will be an “exceptionally difficult” year. She said if the pandemic fades in the second half of the year, allowing the gradual lifting of containment measures and the reopening of the global economy, the IMF is forecasting a partial recovery in 2021.

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