A global recession more severe than expected in 2020

Une récession mondiale plus sévère que prévue en 2020

The global recession, resulting from the containment measures to stem the pandemic of COVID-19, will be stronger than expected this year, according to the latest forecasts of the international monetary Fund released Wednesday.

The IMF now forecasting a contraction in world GDP of 4.9% compared to 3% in April. All regions of the world are affected by these projections are pessimistic. The GDP of the United States, the largest economy in the world, will plunge to 8%, compared with 5.9% estimated previously.

In addition, the institution of Washington believes that the recovery is expected in 2021 will be less sustained than originally projected (+5.4% against 5.8 per cent). And in total, this crisis will lead to a cumulative loss of more than 12 000 billion to the global economy in two years.

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