This year’s output figures will be reminiscent of the 1930’s Great Depression, according to the International Monetary Fund (IMF). It said that the world is at risk of significantly lowered investment, trade and job numbers.
The IMF’s economic expert, Gita Gopinath, said this week that “the cumulative loss in output relative to the pre-pandemic projected path is projected to grow from $11 trillion over 2020-21 to $28 trillion over 2020-25…this represents a severe setback to the improvement in average living standards across all country groups.”
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