The situation may get even worse.
The world economy will need three years to recover from a pandemic coronavirus COVID-19 and the consequent restrictions. This was said by the managing Director of the IMF Kristalina Georgieva during an online debate, reports the Chronicle.info with reference to the Correspondent.
According to her, the world economy will reach the pre-crisis level in 2023.
“The biggest shock has passed,” said Georgieva and added that in March 170 countries showed economic decline.
However, she predicted that the situation may be even worse than the April forecast, the IMF, which involved the fall of the world economy by 3%, because the pandemic has not yet been overcome.
“Without a medical decision, unfortunately, for some economies can be executed more negative scenarios. The uncertainty regarding the behavior of the virus clouds the horizon of expectations,” said Georgieva.
Still, the IMF predicts a partial recovery of the global economy in 2021. The Fund increases the number of programs to support the economies of developing countries and also considers the possibility of debt relief for the poorest countries.
This year, the IMF expects a sharp drop in the economy of Ukraine by almost 8%, but is expected to rebound by 3.6%.