IMF Says 'the Great Lockdown'
Is Likely to Cause Worst Recession
Since 1930s The International Monetary Fund (IMF)
made the statement on Tuesday
in its World Economic Outlook report. Gita Gopinath, IMF,
via CNBC The IMF predicts the global economy
will shrink by three percent this year. In January, it had
predicted a 3.3 percent expansion. Gita Gopinath, IMF,
via CNBC Gita Gopinath, IMF,
via CNBC The World Trade Organization
has also predicted a trade reduction
of between 13 and 32 percent for 2020. The IMF has dubbed the
economic crisis caused by the
coronavirus pandemic "the Great Lockdown."