29-November-2020
Economy News
 
IMF: Economy 'losing momentum' amid virus second wave
21-Nov-2020

Fund chief Kristalina Georgieva said more economic help is needed, and warned countries against withdrawing aid too soon. Recent progress towards a vaccine has raised hopes of a return to normal. But despite those steps, "the economic path ahead remains difficult and prone to setbacks," she said. The IMF has predicted the world economy will shrink by 4.4% this year in the worst annual plunge since the 1930s. It expects growth of 5.2% next year, but said recovery is likely to be "partial and uneven" Except for China, economic activity next year is likely to remain below 2019 levels in most major economies, the IMF said in a report prepared for this weekend's upcoming summit of the G-20 nations.

News Source:- https://www.bbc.com/news/business-55006982