IMF Says 'the Great Lockdown' Is Likely to Cause Worst Recession Since 1930s The International Monetary Fund (IMF) made the statement on Tuesday in its World Economic Outlook report.
Gita Gopinath, IMF, via CNBC The IMF predicts the global economy will shrink by three percent this year.
In January, it had predicted a 3.3 percent expansion.
Gita Gopinath, IMF, via CNBC Gita Gopinath, IMF, via CNBC The World Trade Organization has also predicted a trade reduction of between 13 and 32 percent for 2020.
The IMF has dubbed the economic crisis caused by the coronavirus pandemic "the Great Lockdown."
