International Monetary Fund Managing Director Kristalina Georgieva has said a global economic recovery will take “much longer”. Her comments, made in an interview with Reuters, come with the admission that the 3 per cent fall in GDP was going to be revised down. The new projections are due to be published in June.
The IMF warned last month that the coronavirus pandemic would lead to the deepest recession since the 1930s, since then the data on what is happening to the global economy has got worse. The Fund is also dealing with the impact of an 18 month-long trade war between China and the United States, and says it will be focused on debt, deficits, unemployment, and increased poverty and inequality.