The IMF Press Center is a password-protected site for working journalists.Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. 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.
Liquidity assistance is urgently needed for countries confronting health crises and external funding shortfalls, including through debt relief and financing through the global financial safety net. Gross national income takes a country’s GDP, adds the value of income from imports, and subtracts the value of money from exports. Every region is subject to substantial growth downgrades. However, even after demand recovers, adverse impacts on energy exporters may outweigh any benefits to activity in energy importers.
South Asia will contract by 2.7%, Sub-Saharan Africa by 2.8%, Middle East and North Africa by 4.2%, Europe and Central Asia by 4.7%, and Latin America by 7.2%.
In 2021 global growth is projected at 5.4 percent.
Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast.
The global community must act now to avoid a repeat of this catastrophe by building global stockpiles of essential supplies and protective equipment, funding research and supporting public health systems, and putting in place effective modalities for delivering relief to the neediest.© 2020 International Monetary Fund. Even this bleak outlook is subject to great uncertainty and significant downside risks. The adverse impact on low-income households is particularly acute, imperiling the significant progress made in reducing extreme poverty in the world since the 1990s.As with the April 2020 WEO projections, there is a higher-than-usual degree of uncertainty around this forecast.
We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Policymakers must consider innovative measures to deliver income support to these workers and credit support to these businesses.Another important feature of the current landscape is the historic collapse in oil demand and oil prices.
The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is …
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