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Alba Iulia
Tuesday, July 7, 2020

The collapse in consumption is “messing with” the outlook for the global economy

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Cash box The resulting contraction International Economy 3 percent, and maybe worse.

“It looks like the expectations will get worse,” she told a conference hosted by the Financial Times. Consumption collapse Likely to “lead to downward adjustments.”

In April, the IMF highlighted the extent of uncertainty in its forecasts when it said that a longer and deeper crisis could result shrinkage It was 6 percent in 2020, and zero growth in 2021.

“No country is immune, and the numbers that are coming back are unprecedentedly low,” said Gopinath. Developing countries And economies Emerging markets In particular.

She said that recovery is possible after the all-out closures have been eased, and that there are sufficient tests available to detect Covid-19 infections, the disease caused by the virus, and that contacts of infected people and appropriate quarantine procedures for those affected by the disease.

She indicated a rebound in ChinaForeign demand remained weak, but domestic demand was improving.

And in a hint apparently to the growing tensions between The United States and ChinaGopinath said it is necessary to calm trade tensions and not to hinder cross-border capital flows to spare the global economy more harm.

“If we want a recovery when companies reopen, produce and re-employ … we cannot allow a new meltdown in global supply chains,” she said.

She also stressed the importance Provide liquidity Countries affected by the crisis, noting that the needs of emerging economies and developing countries will likely exceed the IMF’s $ 2.5 trillion forecast.

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Gopinath said that economic data since April confirm forecasts Cash box The resulting contraction International Economy 3 percent, and maybe worse.

“It looks like the expectations will get worse,” she told a conference hosted by the Financial Times. Consumption collapse Likely to “lead to downward adjustments.”

In April, the IMF highlighted the extent of uncertainty in its forecasts when it said that a longer and deeper crisis could result shrinkage It was 6 percent in 2020, and zero growth in 2021.

“No country is immune, and the numbers that are coming back are unprecedentedly low,” said Gopinath. Developing countries And economies Emerging markets In particular.

She said that recovery is possible after the all-out closures have been eased, and that there are sufficient tests available to detect Covid-19 infections, the disease caused by the virus, and that contacts of infected people and appropriate quarantine procedures for those affected by the disease.

She indicated a rebound in ChinaForeign demand remained weak, but domestic demand was improving.

And in a hint apparently to the growing tensions between The United States and ChinaGopinath said it is necessary to calm trade tensions and not to hinder cross-border capital flows to spare the global economy more harm.

“If we want a recovery when companies reopen, produce and re-employ … we cannot allow a new meltdown in global supply chains,” she said.

She also stressed the importance Provide liquidity Countries affected by the crisis, noting that the needs of emerging economies and developing countries will likely exceed the IMF’s $ 2.5 trillion forecast.

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