United States

Coronavirus recession may be worse than financial crisis: IMF

The coronavirus pandemic could strike a bigger blow to the global economy than the financial crisis did a decade ago, the International Monetary Fund warned. The IMF expects the economy to enter a “recession at least as bad as during the global financial crisis or worse” this year as the virus spreads around the world, managing director Kristalina Georgieva said. An economic recovery should follow next year — as long as world leaders work to get the disease under control, she said. “The economic impact is and will be severe, but the faster the virus stops, the quicker and stronger the recovery will be,” Georgieva said in a Monday statement after a conference call with finance officials from the G20 countries. Experts say th ...