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IMF projects global economy to contract by 3% in 2020

Xinhua | Updated: 2020-04-14 20:53

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WASHINGTON -- The global economy is on track to contract "sharply" by 3 percent in 2020 as a result of the COVID-19 pandemic, much worse than during the 2008-09 financial crisis, according to the International Monetary Fund (IMF)'s World Economic Outlook released Tuesday.

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