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Added on the 09/04/2020 21:53:37 - Copyright : France 24 EN
Washington DC, Apr 14 (EFE).- "We project global growth in 2020 to fall to -3 per cent," the International Monetary Fund (IMF) reported on Tuesday."This is a downgrade of 6.3 percentage points from January 2020, a major revision over a very short period. This makes the Great Lockdown the worst recession since the Great Depression, and far worse than the Global Financial Crisis," the organism added.FOOTAGE OF WORLD BANK AND INTERNATIONAL MONETARY FUND HEADQUARTERS IN WASHINGTON DC.
Abidjan, Jul 15 (EFE/EPA).- Ivory Coast hosted Thursday a high-level meeting in collaboration with the World Bank on the 20th replenishment of the International Development Association (IDA-20).The event is attended by several African heads of state. (Camera: LEGNAN KOULA). B-ROLL OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION SUMMIT IN ABIDJAN, IVORY COAST.
The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4 percent, the IMF says in its latest World Economic Outlook. "This upgrade owes to somewhat less dire outcomes in the second quarter, as well as signs of a stronger recovery in the third quarter, offset partially by downgrades in some emerging and developing economies," IMF chief economist Gita Gopinath says. SOUNDBITE
Economic growth in sub-Saharan Africa is likely to slip to 1.6 percent this year, its lowest level in two decades. As Sonia Legg reports, the World Bank reports says it's due to continuing woes in the continent's largest economies South Africa and Nigeria.
Economic growth is set to slow in Sub-Saharan Africa to 3.7 percent this year from 4.6 percent in 2014, its weakest pace since 2009, mainly due to the drop in commodity prices, the World Bank has said in its latest Africa Pulse report. Joel Flynn reports.
President of World Bank Ajay Banga, Brazilian President Luiz Inacio Lula da Silva, Indian Prime Minister Narendra Modi, South African President Cyril Ramaphosa, and US President Joe Biden pose for photos before a meeting. IMAGES