Saturday, April 4, 2020

IMF Warns Coronavirus Will Hurt Global Economy ‘Way Worse’ Than 2008 Financial Crisis

The dire warning comes after global cases of coronavirus recently surged above 1 million. Nicholas Kamm/AFP via Getty Images

By Sergei Klebnikov

Topline: During a World Health Organization press conference on Friday, Kristalina Georgieva, director of the International Monetary Fund, warned the economic fallout from coronavirus is already “way worse than the global financial crisis of 2008.”

    With over half the globe—roughly four billion people—currently on lockdown or under some form of stay-at-home orders due to the coronavirus pandemic, the dive in business activity has created an economic crisis “like no other,” the IMF director warned on Friday.  Read more >>