The Outlook suggested that the world economy in 2020 would see its worst year since the Great Depression of the 1930s. It expected the global economy to shrink 3% this year — far worse than its 0.1% dip in the Great Recession year of 2009. But in the latest outlook, it expected 5.9% economic contractions in the US and 7.5% in the 19-country Euro zone. The IMF said Tuesday expected the economic rebound in 2021 with 5.8% growth and 8.4% growth in the international trade. In its Outlook, the IMF called on countries to work cooperatively to fight the pandemic.

Source: The Express Tribune April 14, 2020 18:11 UTC