Despite some signs of recovery, the global economy faces continued challenges, including the possibility of a second wave of Covid19, and governments should keep their support programs in place, IMF chief Kristalina Georgieva has said.
Activity "has started to gradually strengthen... But we are not out of the woods yet", Ms Georgieva said in a message to G20 finance ministers ahead of their weekend meeting in Saudi Arabia.
The Washington-based crisis lender late last month downgraded its growth forecasts, and now expects global GDP to fall by 4.9% this year due to the deeper contraction during lockdowns than previously anticipated, and only a "tepid recovery is expected for next year." The $11 trillion in stimulus provided by the G20