The IMF said, “The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4% and the ongoing pandemic means the outlook remains uncertain. The recession was less severe but still deep and “the ascent out of this calamity is likely to be long, uneven, and highly uncertain,” IMF chief economist Gita Gopinath said.
Expected economic growth of countries were presented, showing different kinds of V’s.
The IMF said in its latest World Economic Outlook that the heavy injections of government aid kept economies from plunging further, but growth in 2021 is expected to be slightly slower than forecast in June and even weaker in the next few years due to the lasting damage inflicted by COVID.
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