The global recession following the coronavirus pandemic could be worse than the one that followed the 2008 financial crisis, IMF chief Kristalina Georgieva warned on Monday during a G20 conference call.
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A recession "at least as bad or worse" as that during the "financial crisis"
In a statement, she said she warned finance ministers and central bankers that the outlook for global growth was "negative" for 2020 and said that we should expect "a recession at least as severe as during the financial crisis world or worse. "
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A recovery expected in 2021
"But we expect a recovery in 2021," she added more optimistically. However, "to get there, it is essential to prioritize containment and strengthen health systems", everywhere. "The economic impact is and will be serious, but the faster the virus is stopped, the faster and stronger the recovery," she also said.
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