CORONAVIRUS COULD DISRUPT GLOBAL ECONOMIC RECOVERY IMF DIRECTOR

20 nov 2020

CORONAVIRUS COULD DISRUPT GLOBAL ECONOMIC RECOVERY IMF DIRECTOR

The world now faces slower momentum with a resurgence in coronavirus cases on Thrusday Head of the International Monetary Fund said that United States and other major economies performed better in the third quarter than expected.

IMF forecasted last month and said that economy was contracted by a economic head of the G-20, will focus on efforts to stabilise the global economy and hopefully 4.4% this year and then mount a partial and uneven recovery, with global growth rebounding by 5.2% next year.

Kristalina Georgieva the managing director of IMF said that the vaccines hopes of vanquishing the virus that has taken more than a million lives and caused tens of millions of job losses “While a medical solution is now in sight, the economic path ahead remains difficult and prone to setbacks,”.

Many risks remain, including the threat that new outbreaks may require more stringent shutdowns, she said.From the surveillance report said that “growth will be lower, public debt higher and the scars on the long-term potential of the economy more severe.”In addition to traditional economic powers like the US, Japan, Germany, France and Britain, the G-20 includes major developing countries such as China and India.