The IMF forecast the global economy would shrink 3 per cent. — Reuters pic
“The Covid-19 pandemic of 2020 has strengthened the case for fiscal policy action and heightened its urgency,” the IMF said, referring to the respiratory disease caused by the virus that has been confirmed in more than 3.6 million people around the world. In outlining ways the countries should handle downturns and times of weaker economic growth more generally, the IMF said it was imperative to invest in health systems, infrastructure, low-carbon technologies, education and research to improve productivity growth, which has been on a mostly downward trend.
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