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World is moving towards biggest economic crisis due to Coronavirus, says IMF

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The International Monetary Fund representative today told that due to coronavirus pandemic, the world may have to experience economic crises like the Great Depression.

The IMF said: ” The global growth was going to turn negative in 2020 with 170 out of the 180 member countries likely to register a slide in per capita income. It also said that massive fiscal stimulus from governments will be required to get the economies going. The global coronavirus pandemic is causing an economic crisis unlike any in the past century and will require a massive response to help in the recovery.”

The Reserve Bank of India (RBI) also hinted by making a similar prediction saying ” The global economy was heading into recession in 2020 as the Covid-19 pandemic wrecks havoc on global production, supply chains, trade, and tourism.”

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Author at Ludhiana Live Media. Her work combine elements of magic realism, satire and historical fiction – Based in Ludhiana and India.

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