3 weeks IMF sees less severe recession, but warns of lasting damage Inquirer
Washington, United States --- The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4 percent and the pandemic means the outlook remains uncertain, the IMF said Tuesday. Massive injections of government aid kept economies from plunging further, but growth in 2021 is expected to be slightly slower than forecast in June and even weaker in the next few years due to the lasting damage inflicted by COVID-19, the IMF said in its latest World Economic Outlook. "We are projecting a somewhat less severe though still deep recession in 2020, relative ... more