The coronavirus epidemic is fatal to the global economy
There will be a recession that has not occurred in the last nine decades
The International Monetary Fund’s MD warns
Economies around the world will see the worst time since the Great Depression of the 1930s. The International Monetary Fund (IMF) has issued this warning. Given the lockdown given by various countries over the coronavirus epidemic, the IMF believes that the year 2020 will be very bad for the global economy.
With a lockdown by countries watching the coronavirus epidemic, the world’s economy will see the worst time since the Great Depression of the 1930s. The IMF has warned.
Per capita income will decline in 170 countries
IMF Managing Director Christina Georgiova said Thursday that per capita income will decline in more than 170 countries around the world by 2020. Earlier in the 1930s, there was a global depression. The coronavirus will damage the world’s economy. Governments around the world have offered relief packages worth nearly $ 8 million, though they are not getting much.
The biggest decline since the Great Depression
Georgieva said the world is extraordinarily uncertain about the timing of the crisis, though it has already been clear that global growth will be drastically reduced in 2020. “We estimate that we will see the biggest decline since the Great Depression of the 1930s,” he said.
According to the news agency PTI, Georgiou in his address on the subject of ‘Competing with Crisis: Priorities for the Global Economy’ ahead of the upcoming IMF and World Bank meeting next week, said that today the world is facing a crisis that has never come before. Covid-19 has worsened its economic and social status very quickly. This is a situation we have never seen before.