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IMF says globaly economy will be down by 3%

IMF says globaly economy will be down by 3%

IMF says globaly economy will be down by 3%

Washington, April 20:

The global health crisis is taking a nasty political turn with tensions worsening between governments locked down to keep the coronavirus at bay and people yearning to restart stalled economies and forestall fears of a depression.

The International Monetary Fund expects the global economy to contract 3% this year. That’s a far bigger loss than 2009’s 0.1% after the global financial crisis. Still, many governments are resisting pressures to abruptly relax lockdowns.

Protesters worrying about their livelihoods and bucking so called infringements on their freedom took to the streets in some places. A few countries were acting act to ease restrictions, but most of the world remains unified in insisting it’s much too early to take more aggressive steps.

In the United States, there was clear evidence of the mounting pressure. The Trump administration says parts of the country are ready to begin a gradual return to normalcy. Yet some state leaders say their response to the pandemic is hindered by a woefully inadequate federal response.

To have an American president to encourage people to violate the law, I can’t remember any time during my time in America where we have seen such a thing, Inslee told ABC’s This Week.” He said it was dangerous because it can inspire people to ignore things that actually can save their lives.

Trump supporters in several states ignored social distancing and stay-at-home orders, gathering to demand that governors lift controls on public activity.

Ranjini Trinitymirror

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