IMF President: World Economy Begins to Recession

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While the number of coronavirus cases continues to increase, the global economy continues to be adversely affected. Kristalina Georgieva, President of the International Monetary Fund (IMF), thinks that the world economy is now in a recession.

Recession Has Started
Recently, many economists have started to say that the world economy will enter a recession. A few days ago, Deutsche Bank published a report on the issue, mentioning that a liquidity crisis awaits the world.

IMF President Georgieva thinks that this recession has already begun. According to Georgieva, “we have never seen the world economy come to a halt so far”. But Georgieva, who says that the economy has come to a halt for the first time due to Kovid-19, adds:

“We can say that the world has entered a period of recession now. Two things will determine how long this stagnation will last and how severe it will be. We must take the virus under control and fight this crisis in a joint way. ”

According to the news of CNBC, Georgieva especially emphasizes the concept of “common struggle”. The IMF President says that everyone should cooperate to combat the Kovid-19 crisis, which has taken over the world, and that this problem can only be overcome.