The global coronavirus pandemic is causing an economic crisis unlike any in the past century and will require a massive response to ensure recovery, International Monetary Fund chief Kristalina Georgieva said today.
The IMF chief warned that "global growth will turn sharply negative in 2020," with 170 of the International Monetary Fund's 180 members experiencing a decline in per capita income. "In fact, we anticipate the worst economic fallout since the Great Depression," Georgieva said in a speech previewing next week's spring meetings of the IMF and World Bank.
The meetings will be held virtually due to the restrictions imposed due to the Covid-19. Even in the best case the IMF expects only a "partial recovery" next year, assuming the