The world economy began to recover after a record fall in the beginning of the year because of the pandemic coronavirus, but risks remain. This opinion blog was expressed by the managing Director of the International monetary Fund Kristalina Georgieva.
“Last month, the IMF said about the deterioration of economic prospects and forecasted a reduction of global growth of 4.9% this year. Some good news is that the global economic activity, an unprecedented decline that was recorded earlier this year, began to recover gradually. It is anticipated that partial recovery will continue in 2021,” said Georgieva.
According to her, the world state sent to support the economy about $11 trillion.
Nevertheless, Georgieva stressed that the danger has not passed. “The second global wave [coronavirus] can lead to further disruptions in economic activity. Other risks include asset valuation, unstable commodity prices, growing protectionism and political instability. On the other hand, a breakthrough in the field of vaccines and treatment methods can raise confidence and increase economic activity. These alternative scenarios indicate that the level of uncertainty remains exceptionally high,” – said the head of the IMF.
Flash COVID-19 began in late 2019 in China. March 11, 2020, the world health organization declared the spread of the coronavirus pandemic. According to data from the American Johns Hopkins University, the total number of infected people in the world exceeded 13,55 million, of which more 7,55 million recovered, about 585 thousand died.
In connection with the quarantine imposed to combat the spread of the virus in many countries were closed enterprises, which caused massive economic crisis. According to IMF estimates, is the most serious crisis since the great depression.