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| IMF warns coronavirus recession could be worse than 2009 | IMF warns coronavirus recession could be worse than 2009 |
| (32 minutes later) | |
| International Monetary Fund (IMF) has issued a grim warning for the global economy, saying that a worldwide recession caused by the ongoing coronavirus pandemic could be even worse than the one from 11 years ago. | International Monetary Fund (IMF) has issued a grim warning for the global economy, saying that a worldwide recession caused by the ongoing coronavirus pandemic could be even worse than the one from 11 years ago. |
| It further warned that many emerging markets could be particularly severely hit by the economic downturn, and advocated “extraordinary fiscal actions” and measures to ease monetary policy. | |
| Still, according to the organization, the recovery from a looming economic disaster could start as early as 2021. | |
| "The economic impact is and will be severe, but the faster the virus stops, the quicker and stronger the recovery will be," the IMF Managing Director Kristalina Georgieva said in a statement. | |
| DETAILS TO FOLLOW | DETAILS TO FOLLOW |