Global lockdown to cause 'worst economic downturn since the Great Depression': IMF
The International Monetary Fund's (IMF) April World Economic Outlook projects global growth to fall by negative three percent, a downgrade of 6.3 percentage points from January 2020. It also says the great lockdown will cause "the worst economic downturn since the Great Depression."
Gita Gopinath, the Economic Counsellor and director of the Research Department at the IMF wrote, "Under the assumption that the pandemic and required containment peaks in the second quarter for most countries in the world, and recedes in the second half of this year, in the April World Economic Outlook we project global growth in 2020 to fall to negative three percent."
Here is how the economic impact is set to look like.
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