The pandemic sweeping the world will turn global economic growth 'sharply negative' in 2020, triggering the worst fallout since the 1930s Great ...
The pandemic sweeping the world will turn global economic growth"sharply negative" in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.
"Today, that number has been turned on its head: we now project that over 170 countries will experience negative per capita income growth this year." Georgieva said the pandemic was hitting both rich and poor countries, but many in Africa, Asia and Latin America were at higher risk because they had weaker health systems. They were also unable to implement social distancing in their densely populated cities and poverty-stricken slums.
Georgieva said it was encouraging that all governments had sprung into action, enacting some US$8 trillion in fiscal measures and massive monetary measures.
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