Tuesday, July 14, 2020
News

Tremendous uncertainty remains on post-COVID-19 economic recovery - IMF Research Director

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

US | June 30, 2020 6:11:50 AM IST
Washington [US], June 30 (Sputnik/ANI): The International Monetary Fund (IMF) is unable to say with certainty how will the global recovery from the coronavirus pandemic look like but the current rebound across the world is weaker than desired, IMF Research Director Gita Gopinath said.

"There is still tremendous uncertainty about what the path of recovery would look like," Gopinath told a live-stream event hosted by the Center for Strategic and International Studies on Monday.

Gopinath said a slower recovery is coming up, especially with the major commodity exporters, after the big drop in oil prices and demand for travel.

"We've recovered from the March and April lows, but still the path for oil that we are projecting is lower than projected before this crisis. And so, these countries are going to have a much weaker recovery relative to other countries," Gopinath said.

Gopinath also said that the IMF's G20 debt relief initiative for the poorest countries will likely need to be extended beyond the end of this year.

Last week, the IMF slashed its already gloomy growth projections for the United States and other developed countries in 2020, saying it expected the global economy to contract by 4.9 percent this year.

The IMF said the global economy will take a $12 trillion hit from the novel coronavirus pandemic, adding that it could take two years for world output to return to 2019 levels. (Sputnik/ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE WORLD NEWS
China denies burial to its soldiers kill...
Global COVID-19 count exceeds 13 million...
As coronavirus cases rise, California sa...
Fire breaks out at LNG plant in Iran...
Over 6,50,000 Indians evacuated from abr...
US budget deficit hits record high of $8...
More...
 
INDIA WORLD ASIA
1,001 new COVID-19 cases reported in Ass...
Samsung launches SpaceMax Family Hub ref...
COVID-19: Delhi HC suspends functioning ...
Adhir Ranjan requests PM Modi to interve...
Pakistanis sing 'Vande Mataram' alongsid...
SC moved for CBI probe into BHEL woman o...
More...    
 
 Top Stories
'Andaman and Nicobar Islands can be... 
Senior Cong leaders reach out to Pi... 
Singapore enters technical recessio... 
Streets in Kalaburagi remain desert... 
33 more COVID-19 cases in Nagaland... 
We are giving second chance to Sach... 
COVID-19: Considering meditation an... 
India's coronavirus tally will cros...