IMF outlook worsens as pandemic intensifies
Fund warns of medium-term challenges for fiscal consolidation and trade
The International Monetary Fund downgraded almost every country’s growth forecast for 2020 in the latest update to its World Economic Outlook, released today (June 24).
The IMF says the pandemic has inflicted greater negative impacts than it previously anticipated, and that infections have intensified in a number of emerging market and developing economies since the April outlook was published.
Global growth is expected to fall 4.9% in 2020 under the baseline scenario, down from a drop of 3%
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