IMF Blog Updates - The Great Lockdown: Worst Economic Downturn Since the Great Depression

"April World Economic Outlook projects global growth in 2020 to fall to -3 percent."

"This is a truly global crisis as no country is spared. Countries reliant on tourism, travel, hospitality, and entertainment for their growth are experiencing particularly large disruptions. Emerging market and developing economies face additional challenges with unprecedented reversals in capital flows as global risk appetite wanes, and currency pressures, while coping with weaker health systems, and more limited fiscal space to provide support. Moreover, several economies entered this crisis in a vulnerable state with sluggish growth and high debt levels."

BOP of Malaysia for the period are also will be affected significantly due to the severe economic impact from the pandemic COVID-19.

Check out the latest IMF blog discussing on the economic downturn in the world here