14 April 2020

Worst economic crisis since 1930s depression, IMF says.

# Worst economic crisis since 1930s depression, IMF says.


IMF head, Kristalina Georgieva said the world has faced the worst economic crisis since the Great Depression of the 1930s. The pandemic will turn global economic growth "sharply negative" this year, the head of the International Monetary Fund (IMF) has warned.

She forecast that 2021 would only see a partial recovery. Lock downs imposed by governments have forced many companies to close and lay off staff.

Earlier this week, a UN study said 81% of the world's workforce of 3.3 billion people  had their place of work fully or partly closed because of the outbreak.

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