The Worldwide Financial Fund (IMF) mentioned the world’s present financial disaster is the worst downturn because the Great Melancholy, and no nation is spared. The IMF estimates that the cumulative loss to world GDP from the pandemic might be round 9 trillion .
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The Great Lockdown: Worst Financial Downturn Since Great Melancholy
The IMF’s financial counselor and director of the analysis division, Gita Gopinath, has analyzed the world’s financial disaster and detailed her evaluation in a report printed on Tuesday. “The world has been put in a Great Lockdown,” she started, citing that international locations have applied the required quarantines and social distancing practices to fight the coronavirus pandemic. She elaborated:
The magnitude and pace of collapse in exercise that has adopted is in contrast to something skilled in our lifetimes.
Gopinath sees the…