These forecasts may still turn out to be too optimistic. A longer-lasting lockdown or a second wave of infections would plunge the global economy into an even deeper contraction. The IMF estimates that such scenarios would reduce the world’s economic output by an additional 2 per cent and 5 per cent respectively by 2021.
These forecasts may still turn out to be too optimistic. A longer-lasting lockdown or a second wave of infections would plunge the global economy into an even deeper contraction. The IMF estimates that such scenarios would reduce the world’s economic output by an additional 2 per cent and 5 per cent respectively by 2021.