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IMF warns of worst global recession since 1930s

BUSINESS DAILY
BUSINESS DAILY © FRANCE 24

The global economy is facing its worst recession since the 1930s. That’s according to the International Monetary Fund, which has sharply cut its 2020 forecast because of the coronavirus pandemic and lockdowns. The IMF predicts a 3 percent contraction for the global economy this year - describing "The Great Lockdown" as a crisis "like no other". The Fund has called on governments to take "swift and sizable" action to support the economic recovery.

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There's also a growing movement towards debt relief for the world's poorest countries, to allow them to funnel crucial funds into fighting the virus.

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