Question

What is Global Economic Depression of 2020?​

Answer 1

Explanation:

IMF reported that the world economy ... fears of a 2020 recession across the world.

Cause: COVID-19 pandemic-induced market instability and lockdown

Date: 20 February 2020 – present; (2 months, 4 weeks and 1 day)

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Answer 2

Answer:

This is a crisis like no other, and there is substantial uncertainty about its impact on people’s lives and livelihoods. A lot depends on the epidemiology of the virus, the effectiveness of containment measures, and the development of therapeutics and vaccines, all of which are hard to predict. In addition, many countries now face multiple crises—a health crisis, a financial crisis, and a collapse in commodity prices, which interact in complex ways.

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