IMF Chief Warns Global Economy ‘Not Out of The Woods’

Global economic activity is picking up after an unprecedented decline this year due to the coronavirus pandemic, but a second major wave of infections could trigger more disruptions, IMF Managing Director Kristalina Georgieva said.

“We are not out of the woods yet,” Georgieva said

The International Monetary Fund had cut its global output forecast for 2020, forecasting a contraction of 4.9  %and a weaker-than-expected recovery in 2021.

“Monetary policy should remain accommodative where output gaps are significant and inflation is below target, as is the case in many countries during this crisis,” she said.