Even in the best-case scenario, the IMF expects only a "partial
recovery" next year, assuming the virus fades later in 2020, allowing
normal business to resume as the lockdowns imposed to contain its spread
are lifted. But she added this ominous caution: "It could get worse."
There is "tremendous uncertainty around the outlook" and the duration of the pandemic, Georgieva said. The IMF will release its latest World Economic Outlook on Tuesday, with grim forecasts for its members this year and next. In January, the IMF projected global growth of 3.3 percent this year and 3.4 percent in 2021. But that was a different world.
The US economy has purged 17 million jobs since mid-March, with the latest weekly data issued on Thursday showing 6.6 million workers filed for unemployment benefits, and economists projecting a double-digit jobless rate this month."
There is "tremendous uncertainty around the outlook" and the duration of the pandemic, Georgieva said. The IMF will release its latest World Economic Outlook on Tuesday, with grim forecasts for its members this year and next. In January, the IMF projected global growth of 3.3 percent this year and 3.4 percent in 2021. But that was a different world.
The US economy has purged 17 million jobs since mid-March, with the latest weekly data issued on Thursday showing 6.6 million workers filed for unemployment benefits, and economists projecting a double-digit jobless rate this month."
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