The International Monetary Fund (IMF) projected the global growth at -4.9% in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. “We are projecting a sharp contraction in 2020 of -4.5%. In 2021, global growth is projected at 5.4%, the report said. “India’s economy is projected to contract by 4.5% following a longer period of lockdown and slower recovery than anticipated in April,” the IMF said. The projected growth rate of 6% in 2021 is -1.4% less than its April forecast.

Source: The Hindu June 24, 2020 14:15 UTC