IMF says global economic collapse by Coronavirus worse than expected

[Mountainmanbob]

https://www.washingtonpost.com/business/2020/06/24/imf-global-economy-coronavirus/

The International Monetary Fund on Wednesday painted a bleak portrait of the global economy, saying the coronavirus pandemic has caused more widespread damage than expected and will be followed by a sluggish recovery.

Current conditions are considerably more dire than the “unprecedented decline in global activity” that the fund projected two months ago. Since mid-April, economic data suggest “even deeper downturns than previously projected,” the fund said.

Fund officials blamed the darker forecast on the effects of social distancing; scarring to global production capacity from the lockdown of activity; and the productivity cost of new safety and hygiene rules. Some economies also are still struggling to control the coronavirus, the fund added without naming specific governments.

 

[DebbieJ]

It will take years of recovery.

 

[loveofourlord]

It will take years of recovery.

But I was told if we reopen the economy people will die, but everything will be okay!

 

[Mountainmanbob]

But I was told if we reopen the economy people will die, but everything will be okay!

If we don't reopen the economy and keep it open everything is not going to be ok.
M

 

[loveofourlord]

If we don't reopen the economy and keep it open everything is not going to be ok.
M

and it's not going to be okay if you reopen eitehr, and just cost more lives, and bankrupt more people.