IMF Warns Coronavirus Recession Could Be Worse Than Great Depression

The IMF's chief economist, Gita Gopinath, discusses the bleak global economic forecast, predicting a 3% contraction, the worst since the Great Depression. The baseline scenario assumes pandemic containment by mid-year, but alternative scenarios suggest worse outcomes. The IMF is responding to unprecedented financing requests from nearly 100 countries. Concerns about long-term economic damage, especially to small enterprises, are highlighted. The crisis differs from past ones due to its health-related nature, affecting economic recovery strategies.

What are the challenges faced by small and medium enterprises during this crisis?

How does the current economic crisis differ from past crises in terms of stimulus and spending?