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Global recession could be worse than 2008: IMF MD

Mar 24, 2020 13:23 IST

International Monetary Fund Managing Director Kristalina Georgieva on Monday said that the world will face a recession that could be as bad as the 2008 economic meltdown, or even worse. However, the IMF expects recovery in 2021. Speaking at a conference call of G20 nations, Kristalina said that to get there, it is paramount to prioritise containment and strengthen health systems everywhere. The economic impact is and will be severe, but the faster the virus stops, the quicker and stronger the recovery will be, she added.

Economy