IMF slashes its forecasts for the global economy and warns of soaring debt levels
PUBLISHED WED, JUN 24 2020 9:00 AM EDT
Silvia Amaro@SILVIA_AMARO
KEY POINTS
The Fund also downgraded its GDP forecast for 2021.
The IMF cautioned that the forecasts are surrounded with unprecedented uncertainty.
The United States is expected to contract by 8% this year. The Fund had estimated a contraction of 5.9% in April.
This jobs number should ease some recession fears, although next weeks CPI will be a key indicator as we all know. Payrolls were up 372,00 better than expected with the unemployment rate remains at 3.
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