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Showing posts with the label Econmic recovery and COVID-19

COVID-19: Recovery will be slower following ‘crisis like no other’, IMF predicts

WFP/Glory Ndaka Women queuing for food rations in Cameroon practice social distancing to help combat the spread of COVID-19.         24 June 2020 Economic recovery from the COVID-19 pandemic is projected to be more gradual than previously forecast, according to a report published on Wednesday by the International Monetary Fund ( IMF ). It estimates growth this year at -4.9 per cent, or nearly two percentage points below projections in April, indicating that the recession will be deeper and recovery slower. The latest  World Economic Outlook  is an update to data published two months ago. Subtitled  A Crisis Like No Other, An Uncertain Recovery , it warns that gains made over the past two decades in driving down extreme poverty could be in peril. A call for strong health systems The  IMF  explained that the report reflects “a higher-than-usual degree of uncertainty” around the projections, which are based on key assumptions a