Washington Post: IMF says global economic collapse caused by coronavirus will be even worse than fearedThe International Monetary Fund on Wednesday painted a bleak portrait of the global economy, saying the coronavirus pandemic has caused more widespread damage than expected and will be followed by a sluggish recovery.
The global economy will shrink this year by 4.9%, worse than the 3% decline predicted in April, the IMF said.
No major economy is escaping the pandemic. The U.S. economy, the world’s largest, is expected to shrink this year by 8%. Countries that use the single European currency are headed for a decline of more than 10% while Japanese output will fall by 5.8%, the IMF said.
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WNU Editor: If a second wave does occur, even these terrible IMF projections will be regarded as optimistic. Unemployment numbers. Debt levels. Economic contractions. think nightmare scenario.
More News On The IMF Saying The Global Economic Collapse Caused By The Pandemic Will Be Even Worse Than Feared
IMF says decline in global growth worse than forecast — BBC
IMF sharply downgrades outlook for global economy in face of COVID-19 — CBC/AP
IMF predicts deeper global recession from coronavirus pandemic — Reuters
IMF slashes forecast for the global economy, warns of soaring debt levels and unemployment — NBC
Global economy will take $12tn hit from coronavirus, says IMF — The Guardian
The recession is much worse than the IMF expected and the hit to jobs ‘catastrophic’ — CNN
IMF projects 4.9% economic contraction as concerns mount over second wave — Yahoo Finance