IMF Forecasts Worst Economic Downturn Since Great Depression, Calls for Global Action to Support Economy

International monetary fund (imf) has predicted that the global economy is expected to contract by 3% in 2020, which would be the worst economic downturn since the great depression. this has led to the imf warning of long-term damage to the global economy, as well as calling for coordinated fiscal and monetary policy measures to support the global economy. this includes providing direct financial support to households and businesses, as well as increased public investment in health care and infrastructure.

Economic crisis occurred in 2020 and has impacted the global economy. the imf has predicted that the global economy will rebound in 2021, with growth of 5.8%, though the recovery could be slower and more uneven than expected. the imf has also warned that the crisis could lead to a rise in poverty and inequality, as well as a rise in unemployment.

Economic crisis was caused by a range of factors, including the outbreak of the covid-19 pandemic and the resulting economic disruption. the imf has urged governments to take steps to protect vulnerable populations, reduce the risk of financial instability, and reduce the risk of a prolonged recession. the imf has also called for increased international cooperation to support the global economy and ensure that the recovery is inclusive and equitable.

By Evey Lovelace

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