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The International Monetary Fund (IMF) will likely  downgrade its global economy projections amid the novel coronavirus (COVID-19) crisis and predicts the economy will partially recover next year, IMF Managing Director Kristalina Georgieva said on Tuesday. Georgieva said during a virtual conference hosted by the Financial Times, with the crisis still spreading, incoming economic data from many countries is worse than IMF already pessimistic projections. Asked about a possible downgrade of economic forecasts, Georgieva also said such a move by the IMF is "very likely."

According to Georgieva, IMF is going to come up with update of IMF projections sometime in June. At that time IMF expectation is that unfortunately there would be a bit more bad news how we see 2020. Georgieva urged governments to take decisive actions to stabilize the situation in their countries and noted that the IMF expects a partial economic recovery next year//Sputnik