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Kristalina Georgieva warned that “worldwide development will turn greatly negative in 2020.”.
The worldwide coronavirus pandemic is causing an economic crisis unlike any in the past century and will require a huge reaction to ensure healing, IMF chief Kristalina Georgieva stated on Thursday.
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She cautioned that “ international development will turn sharply unfavorable in 2020,” with 170 of the International Monetary Fund’s 180 members experiencing a decline in per capita earnings.
” In truth, we expect the worst economic fallout given that the Great Depression,” Ms. Georgieva stated in a speech previewing next week’s spring conferences of the IMF and World Bank, which will be held virtually due to the restrictions enforced due to the COVID-19
Even in the very best case the IMF anticipates just a “partial recovery” next year, assuming