Kristalina Georgieva, the president of the International Monetary Fund (IMF), said the world’s economy restoration after spring is weak. In her video speech, she said the phenomenal measures by central banks and finance ministries assisted to alleviate the crash hit by the coronavirus pandemic.
She said the IMF’s next World Economic Outlook would reveal a negligible growth compared to a 4.9% fall, expected in global output in June.
She added the WEO would probably announce the hugest slump in economy ever since the world war II. Georgieva said there was a global crisis in which all countries, rich and poor alike, were tied to the same rope. She stated the downturn in the global GDP, predicted in June, is not as grave today. She added improvements seen during the second and third quarters were slightly better than anticipated, which suggests a slight “upward revision " in global 2020’s forecast.
IMF anticipates to see some irregular economic renounce in the year to come.