IMF downgrades world economy growth outlook citing ‘more negative impact’ of COVID-19
The International Monetary Fund (IMF) on Wednesday (June 24) said it projects global growth at -4.9%, which is 1.9 percentage points below its April forecast.
“The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast,” IMF said in a statement.
The adverse impact on low-income households will be particularly acute, said the Fund.
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