Skip to content

IMF forecasts 4.9% drop in world economy

The IMF estimated a 4.9% drop in global GDP for 2020, sharply revising its earlier prediction of a 3% drop due to the pandemic.

A nearly empty terminal at Newark Liberty International Airport in the U.S. in April
A nearly empty terminal at Newark Liberty International Airport in the U.S. in April (AN/J. Heilprin)

WASHINGTON (AN) — The International Monetary Fund estimated a 4.9% drop in global GDP for 2020 on Wednesday, sharply revising its earlier prediction of a 3% drop from the devastating impacts of the coronavirus pandemic.

"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.

This article is for paying subscribers only

Join now

Already have an account? Log in

Latest