The global economy has entered a recession and a sizeable recovery is possible next year upon the defeat of the novel coronavirus (COVID-19) everywhere, International Monetary Fund (IMF) Managing Director Kristalina Georgieva told reporters on Friday
WASHINGTON (Pakistan Point News / Sputnik - 27th March, 2020) The global economy has entered a recession and a sizeable recovery is possible next year upon the defeat of the novel coronavirus (COVID-19) everywhere, International Monetary Fund (IMF) Managing Director Kristalina Georgieva told reporters on Friday.
"It is now clear that we had entered the recession" whose effects will be worse than the financial crisis of 2008, Georgieva said during virtual press briefing.
The IMF managing director projected that economic recovery is possible in 2021 on the condition that the COVID-19 pandemic is contained worldwide.
"In fact there maybe a sizeable rebound but only if we succeed containing the virus everywhere," Georgieva said.
