Businesses have been shattered, the world's economies are on their knees, and 125,000 innocent lives have been lost from the uncontrolled spread of the coronavirus that first emerged in Wuhan in China in December. Previous NextBeaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. “The world has been put in a great lockdown,” the IMF’s chief economist, Gita Gopinath, told reporters. The IMF’s twice-yearly World Economic Outlook was prepared for this week’s spring meetings of the 189-nation IMF and its sister lending organization, the World Bank. Those meetings, along with a gathering of finance ministers and central bankers of the world’s 20 biggest economies, will be held virtually for the first time in light of the coronavirus outbreak.-AP

Source: The Standard April 15, 2020 02:13 UTC