Amid the coronavirus, the International Monetary Fund is projecting its worst ever economic forecast for the global economy: a 3% contraction in 2020.
The International Monetary Fund said Tuesday that the novel coronavirus will likely push the global economy into its worst recession since the Great Depression, warning that prospects over a global rebound are highly uncertain.
“Much worse growth outcomes are possible and maybe even likely,” IMF Chief Economist Gita Gopinath said. The IMF cautioned that its forecast faces “extreme uncertainty” because of the difficulty around predicting the pathway of the pandemic and the efficacy of containment measures, among other factors.
Story continuesThe IMF also applauded central banks for providing liquidity to avoid systemic stress in the financial system.
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