The International Monetary Fund says the coronavirus pandemic could leave “long-lasting scars” on the global economy. A key committee that advises the organization's board met on Thursday as part of this year’s virtual IMF World Bank annual meetings.

The IMF’s International Monetary and Financial Committee says it will use all the tools at its disposal to restore confidence, jobs and growth around the world.

The IMF published its latest World Economic Outlook earlier this week, forecasting the global economy will contract by 4.4% in 2020.

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