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IMF head predicts worst economic crisis since the Great Depression

The head of the IMF predicted the worst economic crisis since the Great Depression. RIA Novosti reports.

According to the media outlet, the Managing Director of the International Monetary Fund, Kristalina Georgieva, said that in 2020 the world community will face the worst economic recession since the Great Depression.

According to her, because of the coronavirus pandemic, the economy is forced to face an «unprecedented» crisis.

«COVID-19 undermined our social and economic order at a lightning speed and on a scale that was not within our memory,» Kristalina Georgieva said.

She noted that it is still unclear how deep and prolonged this recession will be. «However, it is now clear that the growth of the world economy in 2020 will become sharply negative,» the head of the IMF said.