The International Monetary Fund is projecting a deep global recession in 2020 because of the COVID-19 pandemic, with global economies expected to shrink by 4.4%.
Speaking Tuesday at the IMF’s World Economic Outlook Forum in Boston, IMF chief economist Gita Gopinath said the pandemic shut down business and industry throughout the world.
While most economies reopened, prompting the IMF to improve its current forecast to somewhat over its June prediction, Gopinath said resurgences of the virus and other political uncertainties suggest the global economic recovery will be slow and uneven well into 2021. (VOA)