IMF chief says pandemic could trigger worst global recession since Great Depression

IMF Managing Director Kristalina Georgieva on April 9 said that world could see its worst ecomic year since 1930s Great Depression with over 170 countries likely to record negative per capita income growth due to coronavirus pandemic. Kristalina was dressing media on "Confronting Crisis: Priorities for Global Ecomy" when she me remarks about negative per capita income growth. 

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Kristalina said, "Today we are confronted with a crisis like or. COVID-19 has disrupted our social and ecomic order at lightning speed and on a scale that we have t seen in living memory. virus is causing tragic loss of life, and lockdown needed to fight it has affected billions of people. What was rmal just a few weeks ago—going to school, going to work, being with family and friends—is w a huge risk."

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"Just three months ago, we expected positive per capita income growth in over 160 of our member countries in 2020. Today, that number has been turned on its he: we w project that over 170 countries will experience negative per capita income growth this year," Kristalina ded. comments on worst ecomic year by Kristalina came ahe of spring meeting of International Monetary Fund and World Bank. 

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Coronavirus outbreak

dely coronavirus infection has claimed nearly 89,800 lives across world and has infected over 15,36,000 people globally since it first broke out in December 2019. China was most affected country until last month before Italy and Spain surpassed it to record most number of deaths anywhere in world due to COVID-19. United States, France, United Kingdom, and Iran have also overtaken China in terms of COVID-19 death toll. virus is believed to have originated from a seafood market in China's Wuhan city, epicentre of disease, where animals were reportedly being tred illegally.

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(Im Credit: AP)