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The International Monetary Fund (IMF) has released a grim forecast for 2020, predicting a 3% contraction in the global economy, marking the worst year since the Great Depression. However, a 6% rebound is expected in 2021, aided by government stimulus. Italy has cautiously begun reopening its economy, allowing some nonessential businesses to operate with strict social distancing measures. Meanwhile, New York Governor Andrew Cuomo has challenged President Trump's claim of having the authority to reopen the economy, emphasizing that governors hold that power. Cuomo remains optimistic about New York's recovery, citing effective social distancing. Stay tuned to Newsy for ongoing updates on the coronavirus situation.

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