IMF predicted that the global economy might shrink by 3% in 2020
After the pandemic ends, governments will have to provide even more cash infusions to help the global economy rebound from the coronavirus's deep recession, the IMF's chief economist said Tuesday.
"Once the recovery happens, and we are past the pandemic phase for advanced economies, it would be essential to undertake a broad based fiscal stimulus," International Monetary Fund research chief Gita Gopinath told reporters.
The spending "would be even more effective if it were coordinated across all the advanced economies of the world," she said.
Meanwhile, IMF projected India's growth rate at 1.9 per cent for 2020, while also predicting a global recession due to the impact of the Coronavirus pandemic. IMF said the global economy might shrink by 3 per cent during 2020 in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression of the 1930s.
