World economy to shrink 3% in 2020, worst setback since 1930s: IMF

The global economy is projected to contract by 3.0 percent in 2020 from a year before due to the coronavirus pandemic, suffering the worst setback since the Great Depression in the 1930s, the International Monetary Fund said Tuesday.The IMF slashed its projection by 6.3 percentage points from its estimate in January, when the spread of the coronavirus was just about to intensify in China. But the global economy could bounce back if the epidemic recedes in the second half of this year, with the IMF projecting 5.8 percent growth next year.The United States -- now the epicenter of the pandemic…READ FULL ARTICLE