IMF Says Coronavirus Recession Will Be Worse Than The 2008 Financial Crisis

CBC/Reuters: IMF says coronavirus recession will be worse than 2008, as UN appeals for aid for poorest economies

UN chief also calling for worldwide ceasefire and focus on 'true fight of our lives'.

The coronavirus pandemic will cause a global recession in 2020 that could be worse than that seen during the global financial crisis of 2008-2009, but the world's economic output should recover in 2021, the International Monetary Fund (IMF) said Monday.

IMF managing director Kristalina Georgieva welcomed extraordinary fiscal actions already taken by many countries to boost health systems and protect affected companies and workers, and steps by central banks to ease monetary policy, adding, "even more will be needed, especially on the fiscal front."

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