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Quotehttps://www.theguardian.com/business/2020/apr/09/imf-chief-flags-up-grim-global-economic-forecast-covid-19"> https://www.theguardian.com/business/20 ... t-covid-19">https://www.theguardian.com/business/2020/apr/09/imf-chief-flags-up-grim-global-economic-forecast-covid-19
The head of the International Monetary Fund has warned that all but a handful of the organisation's 189 member states will suffer falling standards of living this year as a result of the worst global economic crisis since the 1930s.
Kristalina Georgieva said the sudden onset of the Covid-19 pandemic meant the IMF's new forecasts for the world economy were going to be grim when released next week – and there was a risk that the impact could be even worse than currently expected. She said more than 170 countries will suffer a reversal of living standards in 2020.
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