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Coronavirus: IMF sees worst global recession since 1930s, Canada’s economy to shrink 6.2%
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Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast.
Data from the fund’s forecast show Canada’s economy being hit harder than countries like the U.S. and Japan but surviving the blow better than others like Italy, Spain, Germany, France and the U.K.
The IMF said Tuesday that it expects the global economy to shrink 3 per cent this year — far worse than its 0.1 per cent dip in the Great Recession year of 2009 — before rebounding in 2021 with 5.8 per cent growth.
It acknowledges, though, that prospects for a rebound next year are clouded by uncertainty. The bleak assessment represents a breathtaking
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COVID-19
United States
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Deaths: 750 423
Recovered: 0
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India
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Brazil
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