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Economists Warn of GLOBAL RECESSION Soon Coming…

As the world is still struggling with the coronavirus pandemic, economists have started warning of a global recession, saying that it is imminent.

The COVID-19 pandemic has brought a major economic shock to the world, with many countries experiencing a significant slowdown in their economies. The International Monetary Fund (IMF) predicts that the global economy will shrink by 4.4% in 2020, the worst recession since the Great Depression of the 1930s.

The pandemic has caused widespread disruption to international trade, supply chains, and the movement of people, leading to a significant slowdown in the global economy. With many countries imposing lockdowns and social distancing measures, the economic activity has taken a severe hit.

Many sectors, including tourism, hospitality, and entertainment, have been hit hardest by the pandemic, and their recovery may take years. As businesses continue to suffer, unemployment rates have surged, leading to further economic troubles.

Recent developments, such as the new wave of coronavirus cases in Europe and the US and the lack of progress in the US Congress to agree on a new stimulus package, have increased the possibility of a global recession.

The global economy is facing a period of uncertainty as the pandemic shows no signs of abating in many parts of the world. While some countries have been able to manage the pandemic well, others are still struggling, leading to a disparity in economic recovery.

The economic impact of the pandemic is expected to remain significant even after the virus is contained. The IMF predicts that the world economy will recover slowly in 2021, with an estimated growth of 5.2%.

Governments and central banks around the world have implemented various measures to support their economies, such as fiscal stimulus packages and lower interest rates. However, these measures may not be enough to prevent a global recession.

In conclusion, economists warn that a global recession is imminent, and the world should be prepared for the worst. Governments should step up their efforts to help their economies recover, while individuals and businesses should also take necessary measures to reduce the impact of the recession. The pandemic has shown that the world is interconnected, and coordinated efforts are required to overcome this crisis.