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World

16. 10. 2020. 00:00   >>  17:34 0

IMF

This year's data is reminiscent of the Great Depression

This is the worst crisis since the Great Depression, and it will take significant innovation on the policy front, at both the national and international levels to recover from this calamity, assessed the International Monetary Fond (IMF).

The IMF warned at a joint annual conference with the World Bank (WB) this week that the world is in danger of a sharp drop in investment, trade and jobs, reports Tanjug.

The IMF’s Economic expert Gita Gopinath said that it is estimated that cumulative loss in output relative to the pre-pandemic projected path is projected to grow from 11 trillion over 2020–21 to 28 trillion over 2020–25.

“This represents a severe setback to the improvement in average living standards across all country groups.” Gopinath said.

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