IMF announces recession saying 'it's a crisis like no other'

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IMF announces recession saying 'it's a crisis like no other'

Apr 04, 2020 14:05 IST

The head of the International Monetary Fund, Kristalina Georgieva, said the recession sparked by the coronavirus pandemic is 'way worse' than the 2008 global recession. She described the situation as 'a crisis like no other.' (BYTE)"It is now clear that we have entered a recession as bad or worse than in 2009. We do project recovery in 2021. In fact, there may be a sizeable rebound, but only if we succeed with containing the virus everywhere and prevent liquidity problems from becoming a solvency issue."

Economy