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3/26, 3:39 PM (Source: TeleTrader)
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IMF's Georgieva: Global output recovery expected in 2021

According to the latest projections by the International Monetary Fund (IMF), global output is expected to contract in 2020 due to the coronavirus pandemic, the institution's managing director Kristalina Georgieva said on Thursday, adding that the economic recovery should recover next year.

The economist added that the "depth and speed" of recovery depends on the containment of the pandemic.

Georgieva also noted that she is asking G20 leaders to boost global liquidity and provide targeted fiscal support for households and businesses in order to tackle the crisis.

"Otherwise, it will take years to overcome bankruptcies and layoffs," the official underlined.

Breaking the News / GG