Coronavirus will cause global recession as bad as during the global financial crisis – IMF

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IMF predicts a global recession at least as bad as during the global financial crisis or worse. “The economic impact is and will be severe, but the faster the virus stops, the quicker and stronger the recovery will be,” said IMF Managing Director Kristalina Georgieva.

At the same time, according to Jose Angel Gurria, Secretary-General of the OECD. Losses from the coronavirus pandemic have already exceeded the damage from the global financial crises of 2008 and of the September 11 2001 attacks.

“Even if there is no global recession, we will get either zero or negative growth in many countries of the world, including the largest. Because of this, global growth will not only be low this year, but will also be restored for a long time,” he told the BBC.

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