October 13, 2020 | Investopaper
International Monetary Fund (IMF), a multilateral lending body, said on Tuesday that the global economy would shrink this year. According to IMF, the world’s economic growth rate will be negative 4.4 percent in 2020. The fund said in a recent report titled ‘World Economic Outlook’. This is 0.8 percent higher than the previous projection.
According to the report, China’s economy has recovered surprisingly quickly from the outbreak of the corona virus, but the global economy still faces obstacles. Gita Gopinath, the fund’s chief economist, said the crisis was far from over. According to the report, in 2021, the world economy will grow by 5.2 percent. This is 0.2 percent less than the June projection.