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IMF sees global economy shrinking 4.4% in 2020

The pandemic-hit global economy is expected to contract by as much as 4.4% this year, the International Monetary Fund forecast.

IMF Managing Director Kristalina Georgieva speaks on the global economy
IMF Managing Director Kristalina Georgieva speaks on the global economy (AN/IMF)

WASHINGTON (AN) — The pandemic-hit global economy is expected to contract by as much as 4.4% this year in the worst yearly drop since the 1930s-era Great Depression, the International Monetary Fund forecast on Tuesday.

That far outstrips the 0.1% shrinkage in the global economy after the 2008 financial crisis, and drastically reverses the 2.8% growth last year.

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