The global recession, following containment measures to stem the Covid-19 pandemic, will be stronger than expected this year, according to the latest International Monetary Fund forecasts released on Wednesday. The IMF is now counting on a contraction in world GDP of 4.9% against 3% in April. All regions of the world are affected by these pessimistic projections.
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And for certain countries, particularly in Europe, the contraction in gross domestic product is staggering: -12.5% for France, -12.8% for Spain and Italy. The GDP of the United States, the world's largest economy, will plunge 8% against 5.9% previously estimated. In addition, the Washington institution believes that the recovery expected in 2021 will be less sustained than initially projected (+ 5.4% against 5.8%). And in total, this crisis will induce a cumulative loss of more than 12,000 billion dollars for the world economy in two years.
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