We downgraded our growth projection for the world economy - a contraction of 4.9% for 2020 - International Monetary Fund

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We downgraded our growth projection for the world economy - a contraction of 4.9% for 2020 - International Monetary Fund

25-06-2020 13:29

The International Monetary Fund says the recession will be deeper in 2020 and the recovery slower in next year than expected in previous forecast.

“On the forecast, today we released our latest assessment and have downgraded our growth projection for the world economy - a contraction of 4.9% for 2020. The recession will be deeper in 2020 and the recovery slower in 2021 than expected in our April forecast.

We project a cumulative loss to the global economy of over USD12 trillion over two years (2020-2021)—and 10% of this total loss (about USD1.2 trillion) stems from Latin America”, - said the Managing Director of IMF Kristalina Georgieva

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