IMF president implies or reduces global economic forecast

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      The head of the International Monetary Fund on Friday hinted at a possible cut in global economic forecasts and warned the US and China not to restart trade wars, which could weaken the recovery from the new coronavirus pandemic.
Speaking at an online event hosted by the European University Institute, IMF President Georgieva said the latest economic data for many countries were lower than the IMF's pessimistic forecast of a 3% contraction in 2020.
"Without immediate medical solutions, unfortunately for some economies, there could be even worse," Georgieva said "The unknown about the behavior of the virus is casting a shadow on predictions," she added
The IMF expects the global economy to shrink by 3.0% in April, the worst recession since the Great Depression of the 1930s, and a partial rebound in 2021, but warns that the outcome could be worse, depending on the development of the epidemic.
As the world's largest economy, the United States has been severely hit by a wide range of closures aimed at curbing the spread of the virus.


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