IMF/ World Economic Outlook Press Briefing




14 Apr 2020


Washington, DC, United States



IMF/ World Economic Outlook Press Briefing
Washington, DC – Recent
1. B-ROLL: Exterior IMF

Washington, DC --- 14th April, 2020
2. B-ROLL: Cuts, Wide-Shot Studio
3. SOUNDBITE: (English) Gita Gopinath, Chief Economist IMF

“Under the assumption that the pandemic and required containment peaks in the second quarter in most countries of the world and then recedes in the second half of this year, we are projecting global growth in 2020 to fall to minus 3 percent. This is a downgrade of 6.3 percentage points from January 2020. A major revision over a very short period of time. This makes the Great Lockdown the worst recession since the Great Depression and far worse than the global financial crisis. “

4. B-ROLL: Cuts Wide-Shot Studio
5. SOUNDBITE: (English) Gita Gopinath, Chief Economist IMF

“Assuming the pandemic fades in the second half of 2020 and that policy actions taken around the world are effective in preventing widespread firm bankruptcies, extended job losses and system wide financial strength, we project global growth in 2021 to rebound to 5.8 percent. Now, this recovery in 2021 is only partial, as the level of economic activity is projected to remain below the level we had projected for 2021 before the virus hit.”

6. B-ROLL: Cuts Wide-Shot Studio
7. SOUNDBITE: (English) Gita Gopinath, Chief Economist IMF

“In a sense, there is no tradeoff between saving lives and saving livelihoods. Countries should continue to generously support their health systems, perform widespread testing, and refrain from trade restrictions on medical supplies. A global effort must be sure that when therapies and vaccines are developed, both rich and poor nations alike have immediate access.”

8. B-ROLL: Cuts, Wide-Shot, Studio
9. SOUNDBITE: (English) Gita Gopinath, Chief Economist IMF

“As long as interest rates remain very low as we see and we get the recovery that we are projecting, then the combination should help in bringing down debt levels slowly over time. There will be some countries in the world that would require help, external aid, debt restructurings, but we'll have to see what that looks like once we come out of this pandemic.”

Washington, DC – Recent
10. B-ROLL: Exterior IMF
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