The G20 finance ministers and central bank governors will hold meeting on Wednesday to form an action plan to combat the coronavirus crisis.
“GLOBAL ECONOMY WILL EXPERIENCEITS WORST RECESSION”
The G20 is set to gather at a time when the International Monetary Fund (IMF) projected the global economy would shrink by 3 percent in 2020 due to the pandemic.
The IMF’s latest report stressed that “it is very likely that this year the global economy will experience its worst recession since the Great Depression, surpassing that seen during the global financial crisis a decade ago.”
This is why the G20’s leadership in finding a sensible, more inclusive, human-centric global response to coronavirus is considered a “difficult task” today.
Making up some 90 percent of global output, the G20 members’ efforts in tackling the crisis is in spotlight now.