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IMF: Pandemic crisis will be worse than great depression
By EUobserver
The coronavirus pandemic will turn global economic growth "sharply negative" in 2020, triggering the worst crisis since the 1930s great depression, with only a partial recovery seen in 2021, International Monetary Fund managing director Kristalina Georgieva said Thursday. Georgieva said governments had already taken fiscal stimulus measures of $8 trillion, but more would be needed. She said the crisis would hit emerging markets and developing countries hardest, Reuters reported.