IMF projects 4.4 per cent drop in global growth

IMF chief economist Gita Gopinath. [Courtesy]

The International Monetary Fund foresees a steep fall in international growth this year as the global economy struggles to recover from the pandemic-induced recession, its worst collapse in nearly a century.

The IMF estimated on Tuesday that the global economy will shrink 4.4 per cent for 2020 in its update to the World Economic Outlook forecast. That would be the worst annual plunge since the Great Depression of the 1930s.