NSTbusiness 'Other regions are projected to experience severe slowdowns or outright contracts in economic activity.' IMF Covid19 Coronavirus
The pandemic has hammered the world economy, with millions of jobs lost and businesses shut because of unprecedented lockdown measures to slow the spread of the disease.
"Emerging Asia is projected to be the only region with a positive growth rate in 2020 , albeit more than 5 percentage points below its average in the previous decade," the IMF said. However, more advanced economies in the region -- Japan, South Korea, Australia, Singapore and Hong Kong -- will dip into recession, according to the forecast.
But economists have warned that China, where the virus first emerged late last year, will depend on recovery in other parts of the world.
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