IMF sees severe recession, slow recovery ahead

The International Monetary Fund (IMF) has predicted the world is in for a long and severe recession, though the global policy response could help spur a recovery.

The Fund said in its World Economic Outlook, out Thursday, that the current crisis would likely result in an "unusually long and severe" recession owing to the financial and global nature of the turmoil.

The IMF based its forecast on research into previous recessions in 21 advanced economies since the 1960s. The research highlighted

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