The International Monetary Fund (IMF) on Tuesday said the cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around 9 trillion dollars, greater than the economies of Japan and Germany, combined.
IMF Chief Economist Gita Gopinath, disclosed this while presenting the world economic outlook at the ongoing virtual Spring meeting of the IMF and the World Bank group in Washington D.C.
“In the April World Economic Outlook we project global growth in 2020 to fall to -3 percent. This is a downgrade of 6.3 percentage points from January 2020, a major revision over a very short period,” he said.
Hope Moses-Ashike
