[Breaking] IMF Projects Advanced Economies Growth Rate at -6.1%, Emerging Markets at -1.0% This Year
[Asia Economy Reporter Kim Hyunjung] The International Monetary Fund (IMF) announced the global economic outlook on the 14th, taking into account the impact of the novel coronavirus disease (COVID-19) pandemic.
South Korea's growth rate was lowered from the previous 2.2% to -1.2%. Although this is a negative growth rate, it is the highest level among the 36 member countries of the Organisation for Economic Co-operation and Development (OECD).
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The global economic growth rate was forecasted at -3.0%, down 6.3 percentage points from the previous projection of 3.3%. For advanced economies, it was lowered to -6.1%, down 7.7 percentage points from the previous forecast of 1.6%, and for emerging and developing countries, it was lowered to -1.0%, down 5.4 percentage points from the previous 4.4%.
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