Daily Management Review

IMF changes estimates of consequences of the pandemic


Consequences of the coronavirus pandemic may be less severe than was estimated in June, the fund’s spokesman Gerry Rice said on Thursday.

La Citta Vita
La Citta Vita
"The latest data coming in suggests that the consequences (of the coronavirus pandemic) will be somewhat less severe than what was stated in the June 24 update, given that the economy is beginning to recover in part," he said during an online briefing.

In particular, he mentioned the data for the second quarter from China. The performance of "a number of other advanced economies" was also better than forecast in June, Rice explained.

“We are also seeing signs that global trade is slowly recovering,” he said, adding that the situation for emerging markets remains challenging.

According to him, the new revised forecast will be published on October 13.

source: imf.org