Some financial institutions have already pointed to the future economic crisis in the wake of the Corona crisis. Apart from this, some have also spoken about the decline in the global economy and the crisis on millions of jobs all over the world. At the same time, the International Monetary Fund (IMF) is worried about the biggest decline in the global economy after the 90-year-old Great Depression this year. However, the IMF has also acknowledged that if a country’s economy can survive in this crisis, then it is only India and China.

Let us tell you that in the World Economic Outlook report released during the Summer Conference of IMF and World Bank, while the growth rate of China is estimated to be 1.2 percent this year, India’s economic growth rate (GDP) will come down to 1.9 percent in the year 2020. Estimated. Despite this, it is a matter of relief that India will remain the fastest growing major economy in the world. According to Reuters, during this period, it is expected to fall by three percent if we talk about global economic growth. It also means that this decline is bigger than the economic crisis of 2008-09.

In this conference, the International Monetary Fund (IMF) also expressed concern over the ongoing Corona crisis in the world. It said that it is very important for the whole world to overcome this. For this, the IMF has also called on all countries not to curb the export of medical supplies.

Significantly, due to this crisis spread across the world, the demand for medical goods has increased significantly in every country. Many countries are also struggling with its shortage. It is also the case that its prices are skyrocketing and traders are not averse to taking advantage of the need and also supplying the bad stuff. The IMF has expressed concern over all these things. Surgical masks, gowns and ventilators are in huge need globally due to the corona virus.

IMF Chief Economist Geeta Gopinath said at the Monetary Fund headquarters before the meeting that in terms of globalization this is a difficult time to deal with this epidemic. He said that people’s travel is controlled. People cannot go to work. Factories closed, global supply chain broken. This has happened because of this crisis. Let us tell you that these concerns have come up because some countries have taken such action. The European Union also announced on 15 March to curb exports of products such as face shields, surgical masks and gowns. At the same time, Italy’s only ventilator manufacturer, Sierre Engineering, said that on the government’s directive, it is keeping all its production for domestic use.