Washington, Oct 15–The International Monetary Fund and World Bank annual meetings kicked off in Washington, D.C., this week.
This, as economists warn of the worst global recession since the Great Depression in the 1930s.
The IMF released its latest World Economic Outlook this week, predicting global GDP will contract by 4.4% in 2020.
The forecast was slightly better than its last one in June, but the organization still warned of a “long, uneven and uncertain” recovery from the coronavirus pandemic.
China continues to be the only economy in the world to show positive growth in 2020 as its GDP is predicted to expand 1.9 percent this year, according to the IMF report.
In an exclusive interview, CGTN’s Yin Yue spoke to Kristalina Georgieva, Managing Director of the IMF, about the global economic recovery from the coronavirus pandemic and why China may lead the way.
“China put in place massive fiscal and monetary stimulus,” Georgieva said. “And China has been very effective in containing the spread of the virus.”
She added, “China’s growth for this year…This is going to be good for China. It is also good for the world economy.”