It is clear world in recession, says IMF chief

The coronavirus has taken the world economy to a recession which will be as bad or worse than the financial meltdown of 2009, IMF chief Kristalina Georgieva said Friday.

“It is clear that we have entered a recession, as bad or worse than 2009,” she said in an online press briefing.

Georgieva said that a key concern of the “sudden stop” of the world economy is a wave of bankruptcies and layoffs that can not only undermine the recovery but can erode the fabric of our society.

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