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IMF Downgrades Global Growth, Signals ‘Worst Recession Since Great Depression’

The IMF has downgraded its global growth forecast for 2020 by 6.3% in just the span of a few months as lockdowns designed to contain the spread of COVID-19 dampen economic activity and send commodity prices tumbling. The Fund’s Economic Counselor and Research Department Director Gita Gopinath said the impending recession would be the worst since the Great Depression.

Apr 15, 2020 // 11:00AM

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