IMF says the world faces the worst recession since the Great Recession

Financial News

Written by: Lin Leqian

2020-04-09 21:54

Kristalina Georgieva, president of the International Monetary Fund (IMF), predicts that this year the global economy will face the worst recession since the Great Depression of the 1930s and expects more than 170 countries to experience negative GDP growth this year.

She said that countries around the world have taken anti-epidemic financial measures with a scale of 8 trillion US dollars (about 62 trillion yuan), which may increase if necessary. If the epidemic subsides in the second half of the year, the economy may be partially recovered next year, but the prospect There is still great uncertainty, and if the epidemic continues to spread, the situation may worsen.

Oxfam said that unless developed countries are willing to take urgent action to support developing countries, the number of people caught in poverty due to the epidemic will increase by more than 500 million people.

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International Monetary Fund IMF