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Latest World Economic Outlook describes shock of coronavirus pandemic as ‘like no other’Coronavirus – latest updatesSee all our coronavirus coverageThe International Monetary Fund has slashed its forecasts for global growth in response to the Covid-19 pandemic and warned of a slump in output this year unparalleled since the Great Depression of the 1930s.In its half-yearly forecasts, the IMF said the “Great Lockdown” would cause...

A singular event has economists asking the same questions as everyone else: how far is there to fall – and can we ever get back?Coronavirus – latest updatesSee all our coronavirus coverageIt is New Year’s Eve 2019 and around the world stock markets are closing for business on a high note. Shares in the US are up by almost 30% on the year, those...

Kristalina Georgieva compares today with “roaring 1920s” and criticises UK wealth gapThe head of the International Monetary Fund has warned that the global economy risks a return of the Great Depression, driven by inequality and financial sector instability.Speaking at the Peterson Institute of International Economics in Washington, Kristalina Georgieva said new IMF research, which compares the current economy to the “roaring 1920s” that culminated...