Global economy warning from IMF President

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Attending an online event organized by the European University Institute The IMF The president stated that the latest economic data are worse than the IMF’s already pessimistic 2020 forecast of contraction by 3 percent.

“Unfortunately, because medical solutions do not appear in the near term, unfortunately there may be worse scenarios for some economies. “The unknowns about the behavior of this virus are darkening the horizon for predictions.”

The IMF’s 3 percent contraction in the global economy is the worst drop since the Great Depression of the 1930s.

The IMF predicted that the economy would recover partially in 2021, but also warned that the outcomes could be much worse due to the outbreak.

The largest economy in the world, the US economy, has been hit hard by the restrictions on combating the epidemic.

According to official data unemployment rates While it rose to 14.7 percent last month, the White house said that this rate could reach 20 percent in May.

class = ‘cf’>The largest economy in the world, the US economy, has been hit hard by the restrictions on combating the epidemic.

According to official data, while unemployment rates rose to 14.7 percent last month, the White house said that this rate could reach 20 percent in May.

CHINA-USA COMMERCIAL WAR

US President Donald Trump threatened to impose new customs duties on what happened after China’s virus appeared.

Trump also said he could end the tier 1 trade deal with China.

Senior US and Chinese officials emphasize that they will continue the trade agreement, while some observers are committed to buying American products from China, reaching 77 billion from 2017 levels foreseen for the first year. dollar he says he lags far behind in his promise to buy more.

IMF President Georgieva warned that the return to protectionist economies could weaken economic recovery in a critical period.

Georgieva stated that the IMF provided emergency funds to 50 of 103 countries seeking assistance.

The IMF President stressed that, despite the fact that the number of dead in poor countries is lower than in rich countries, the sharp decline in money and raw material prices sent by employees outside the country put the poor countries at high risk.

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