Global economy will take $12tn hit from coronavirus, says IMF

World Economic Outlook says UK economy is on course to shrink by 10.2% in 2020 * Coronavirus – latest updates * See all our coronavirus coverage The International Monetary Fund has said the global economy will take a $12tn (£9.6tn) hit from the Covid-19 pandemic after slashing its already gloomy growth projections for the UK and other developed countries in 2020. The IMF said it would take two years for world output to return to levels at the end of 2019 and warned that governments should be cautious about removing financial support to their fragile economies. Continue reading...
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