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Kristalina Georgieva, IMF chief executive, said the IMF may cut its forecast for a 3% GDP contraction in 2020, but gave no details. This may also trigger the IMF's partial recovery of the global economy in 2021 5.8% The growth rate forecast has changed.
In an interview with Reuters, she said data from around the world were worse than expected. "Obviously, that means it will take us longer to fully recover from this crisis," Georgieva said in an interview. She did not give a specific recovery time target.
In April, the global lender predicted that business closures and closures to slow the spread of the virus would plunge the world into its worst recession since the Great Depression of the 1930s. But Georgieva said earlier this month that later figures showed "more bad news.".
The International Monetary Fund will release its latest Global Forecast in June. The U.S. Treasury said the global economic outlook remains a major focus of the group of Seven finance ministers, who will hold a teleconference on Tuesday.
Georgieva told Reuters the group's concerns include high debt levels during recovery, rising deficits, unemployment, bankruptcy, poverty and rising inequality. But she said the crisis also drove the digital economy, providing opportunities for transparency and online learning, and even for small companies to enter the market.
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