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In 2020 the global community expects the worst economic downturn since the great depression. This is stated in the statement of the managing Director of the International monetary Fund (IMF) of Kristalina Georgieva.
According to her, the economy is forced to face “unprecedented” crisis earlier due to the pandemic coronavirus. Georgiev noticed that while it is not clear how deep and long this downturn, reports News.ru.
Depression will affect both developed countries and States with emerging economies, she added. According to the forecast of IMF, partial recovery could begin in 2021, if the pandemic will come to naught in the second half of 2020.
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Economist, Jesse Colombo, who predicted the financial crisis of 2008, also previously stated about the new crisis. It may be more significant than the previous one, the expert warned.
Among the factors that have a negative impact on the global economy, in addition COVID-19, he called the fall in oil prices due to the failure of the transaction OPEC+.
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