World Economic Outlook, April 2020: The Great Lockdown

International Monetary Fund. Research Dept.

doi:10.5089/9781513539744.081

Cited by 65COVID-19 Pandemic ImpactsMonetary Policy and Economic ImpactEconomic, financial, and policy analysis

World Economic Outlook, April 2020: The Great Lockdown

International Monetary Fund. Research Dept.·2020·International Monetary Fund eBooks

DOI 10.5089/9781513539744.081

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Abstract

The COVID-19 pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity. As a result of the pandemic, the global economy is projected to contract sharply by –3 percent in 2020, much worse than during the 2008–09 financial crisis. In a baseline scenario--which assumes that the pandemic fades in the second half of 2020 and containment efforts can be gradually unwound--the global economy is projected to grow by 5.8 percent in 2021 as economic activity normalizes, helped by policy support. The risks for even more severe outcomes, however, are substantial. Effective policies are essential to forestall the possibility of worse outcomes, and the necessary measures to reduce contagion and protect lives are an important investment in long-term human and economic health. Because the economic fallout is acute in specific sectors, policymakers will need to implement substantial targeted fiscal, monetary, and financial market measures to support affected households and businesses domestically. And internationally, strong multilateral cooperation is essential to overcome the effects of the pandemic, including to help financially constrained countries facing twin health and funding shocks, and for channeling aid to countries with weak health care systems.

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The International Monetary Fund has forecast a worldwide recession caused by COVID-19 lockdowns.
“The International Monetary Fund has forecast a worldwide recession caused by COVID-19 lockdowns.81”
From Social consequences of mass quarantine during epidemics: a systematic review with implications for the COVID-19 response (2020) · cites this paper as [81]

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Authors: Dept., I. M. F. R.
Venue: International Monetary Fund eBooks
Publisher: International Monetary Fund
Published: 2020-04
DOI: 10.5089/9781513539744.081
OpenAlex: W4241260972
Cited by: 65
References: 0
Citations by year: 2026: 3 · 2024: 1 · 2023: 5 · 2022: 27 · 2021: 15 · 2020: 8 · 2017: 1 · 2014: 1 · 2013: 1 · 2012: 1
FWCI: 19.38
Type: book
Language: en
Open access: closed
Locations: International Monetary Fund eBooks (publishedVersion)
Topics: Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › COVID-19 Pandemic Impacts
Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Monetary Policy and Economic Impact
Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic, financial, and policy analysis
Keywords: COVID-19 pandemic, global economic outlook, economic contraction, economic recovery, containment measures, fiscal policy, monetary policy, multilateral cooperation, foreign aid, health care system

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World Economic Outlook, April 2020: The Great Lockdown

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