IMF Managing Director Kristalina Georgieva shared forecasts on the state of the world economy in 2020.
According to RIA Novosti, the head of the organization explained that the global community expects a recession comparable only to the events of almost a hundred years ago, when the Great Depression began.
“Coronavirus has undermined our social and economic order with lightning speed and on a scale that is not was in our memory, “explained Georgieva.
According to her, it’s already becoming clear that global growth the economy will be sharply negative.
Georgieva explained that depression will affect developed countries and emerging economies.
The head of the IMF believes that a partial economic recovery may start next year, but that requires a pandemic coronavirus ended in the second half of 2020.