IMF Sees Deeper Drop in Economy
June 29, 2020
The International Monetary Fund (IMF) calls COVID-19 a “crisis like no other.” IMF has released its latest projections for global growth and it’s a decline of 4.9% in 2020. In the U.S., the forecast is an 8% downturn, the biggest drop since the economy demobilized following the end of World War 2. IMF said “the COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast.” In 2021 global growth is projected at 5.4%. It’s 4.8% in the U.S.