World economic outlook says 2020 impact is less than thought but there will be deep scars
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World economic outlook says 2020 impact is less than thought but there will be deep scars
Sirop14 Tue Oct 13, 2020 1:55 pm
Monetary Fund (IMF)
IMF estimates global Covid cost at $28tn in lost output
World economic outlook says 2020 impact is less than thought but there will be deep scars
Larry Elliott
Tue 13 Oct 2020 13.30 BSTLast modified on Tue 13 Oct 2020 14.14 BST
Shares
The WEO’s country-by-country breakdown predicted the UK economy would shrink by 9.8% this year, the joint second worst alongside France among the G7 group of industrialised nations. Only Italy fared worse. Photograph: Justin Tallis/AFP/Getty Images
The International Monetary Fund has scaled back its estimate of the hit to the global economy from Covid-19 this year but warned that the final bill for the pandemic would total $28tn (£21.5tn) in lost output.
In its flagship world economic outlook, the IMF said a stronger than expected performance in the second and third quarters meant it believed global output would fall by 4.4% in 2020 compared with the 5.2% drop forecast during the summer.
https://www.theguardian.com/business/2020/oct/13/imf-covid-cost-world-economic-outlook
IMF estimates global Covid cost at $28tn in lost output
World economic outlook says 2020 impact is less than thought but there will be deep scars
Larry Elliott
Tue 13 Oct 2020 13.30 BSTLast modified on Tue 13 Oct 2020 14.14 BST
Shares
The WEO’s country-by-country breakdown predicted the UK economy would shrink by 9.8% this year, the joint second worst alongside France among the G7 group of industrialised nations. Only Italy fared worse. Photograph: Justin Tallis/AFP/Getty Images
The International Monetary Fund has scaled back its estimate of the hit to the global economy from Covid-19 this year but warned that the final bill for the pandemic would total $28tn (£21.5tn) in lost output.
In its flagship world economic outlook, the IMF said a stronger than expected performance in the second and third quarters meant it believed global output would fall by 4.4% in 2020 compared with the 5.2% drop forecast during the summer.
https://www.theguardian.com/business/2020/oct/13/imf-covid-cost-world-economic-outlook
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