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.