An empty Plaza Mayor square in Madrid, Spain. Photo: APAn empty Plaza Mayor square in Madrid, Spain. Photo: AP
An empty Plaza Mayor square in Madrid, Spain. Photo: AP

IMF says coronavirus ‘Great Lockdown’ recession would be steepest in a century

  • The International Monetary Fund said the global economy is expected to shrink by 3.0% in 2020, the steepest downturn since the Great Depression
  • The world is likely to lose a cumulative US$9 trillion in output over two years – greater than the combined GDP of Germany and Japan
Topic |   Coronavirus pandemic
An empty Plaza Mayor square in Madrid, Spain. Photo: APAn empty Plaza Mayor square in Madrid, Spain. Photo: AP
An empty Plaza Mayor square in Madrid, Spain. Photo: AP
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