IMF chief says global economic outlook "less dire" than June estimate

The International Monetary Fund said Tuesday the global economic picture amid the coronavirus pandemic has become “less dire” than before largely due to massive fiscal support and monetary policy actions, allowing a small upward revision to its forecast for this year.Expecting the world economy to suffer its worst setback since the Great Depression in the 1930s, the IMF downgraded in June its global growth projection to a contraction of 4.9 percent in 2020 from a year before, 1.9 percentage points below its April forecast.In an effort to slow the spread of the highly contagious virus, about 85…

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