Two months have passed since the last IMF forecast for the global economy and, already, the time is again to make wrenching decisions. “The pandemic of Covid-19 has had a more negative impact on activity during the first half of 2020 than anticipated, and the recovery is taking shape in a more gradual pace than previously anticipated,” explains the institution of Washington.
Consequence, the world is expected to undergo a downturn of 4.9% this year, according to new forecasts, almost two percentage points less than expected in April. And the resumption of growth in 2021, reaching only 5.4 per cent, compared with 5.8% expected previously. For the first time in history, all regions of the world are expected to be in recession this year, with the exception of China, whose growth, however, will be the lowest since the era of Mao.