World Faces Worst Economic Fallout Since Great Depression, Says IMF Chief

The global coronavirus pandemic has inflicted an economic crisis unlike any in the past century and will require a massive response to ensure recovery, IMF chief Kristalina Georgieva said Thursday.

The warnings about the damage inflicted by the virus already were stark, but Georgieva said the world should brace for “the worst economic fallout since the Great Depression.”

With nearly 89,000 deaths in 192 countries and territories and the number of cases now surpassing 1.5 million worldwide, much of the global economy has been shut down to contain the spread of the virus.