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“Global growth will turn sharply negative in 2020”
13 April 2020 |

Despite the uncertainty over the depth and duration of the crisis caused by the new coronavirus, Kristalina Georgieva, International Monetary Fund’s Managing Director, has no doubts that «global growth will turn sharply negative in 2020».

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In the note published last Thursday on the IMF’s official page, Kristalina Georgieva further advanced that «we anticipate the worst economic fallout since the Great Depression». The reasons behind this statement will be announced this week on the report World Economic Outlook.

This crisis, which knows no frontiers, should affect the economies of more than 170 countries, which «will experience negative per capita income growth this year», she advanced.

«Given the necessary containment measures to slow the spread of the virus, the world economy is taking a substantial hit. This is especially true for retail, hospitality, transport, and tourism», explained the IMF’s Managing Director.

And all this took place in just 3 months, recognized Kristalina Georgieva, recalling that a «positive per capita income growth in over 160 of member countries» of the IMF was expected for 2020.