https://sputnikglobe.com/20200327/imf-managing-director-says-world-enters-recession-economic-recovery-possible-in-2021-1078731402.html
IMF Managing Director Says World Enters Recession, Economic Recovery Possible in 2021
IMF Managing Director Says World Enters Recession, Economic Recovery Possible in 2021
Sputnik International
WASHINGTON (Sputnik) - The global economy has entered a recession and a sizeable recovery is possible next year upon the defeat of the novel coronavirus... 27.03.2020, Sputnik International
2020-03-27T16:44+0000
2020-03-27T16:44+0000
2022-08-06T13:47+0000
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coronavirus pandemic: borders shut, public events cancelled, business, newsfeed, international monetary fund, coronavirus, kristalina georgieva
coronavirus pandemic: borders shut, public events cancelled, business, newsfeed, international monetary fund, coronavirus, kristalina georgieva
IMF Managing Director Says World Enters Recession, Economic Recovery Possible in 2021
16:44 GMT 27.03.2020 (Updated: 13:47 GMT 06.08.2022) WASHINGTON (Sputnik) - The global economy has entered a recession and a sizeable recovery is possible next year upon the defeat of the novel coronavirus (COVID-19) everywhere, International Monetary Fund (IMF) Managing Director Kristalina Georgieva told reporters on Friday.
"It is now clear that we had entered the recession whose effects will be worse than the financial crisis of 2008,” Georgieva said during a virtual press briefing.
The IMF Managing Director projected that economic recovery is possible in 2021 on the condition that the COVID-19 pandemic is contained worldwide.
"In fact, there may be a sizeable rebound but only if we succeed containing the virus everywhere," Georgieva said.
The IMF Managing Director warned that the recession will be “quite deep.”
“We are very much urging countries to step up containment measures aggressively,” she said.
These steps should shorten the recession, Georgieva added. She also called for well-targeted measures primarily focusing on the health system.
