World economy standstill will be worse than 2008 financial crisis

[repo]

Global downturn due to coronavirus 'way worse' than global financial crisis -IMF

The coronavirus pandemic has brought the global economy to a standstill and plunged the world into a recession that will be "way worse" than the global financial crisis a decade ago, the head of the International Monetary Fund said on Friday.

www.nasdaq.com

IMF Managing Director Kristalina Georgieva, speaking at a rare joint news conference with the leader of the World Health Organization, called on advanced economies to step up their efforts to help emerging markets and developing countries survive the economic and health impact of the pandemic.

"This is a crisis like no other," she told some 400 reporters on a video conference call. "We have witnessed the world economy coming to a standstill. We are now in recession. It is way worse than the global financial crisis" of 2008-2009.

 

[Mehdi Hassan]

Great time to invest if you can! Always gotta look at the positive.

 

[repo]

Great time to invest if you can! Always gotta look at the positive.

Not a lot of people are sitting on liquid assets.

 

[Abba Sadacha]

Indeed, hard times maybe coming soon, but the Sabirun, the patient ones, know this world, its pains and its pleasures are all temporary; so remain patient and firm until you/we meet Allah

 

[Rooble44]

Great time to invest if you can! Always gotta look at the positive.

Invest in what?

 

[repo]

Brace for impact.

I.M.F. Predicts Deeper Global Downturn Even as Economies Reopen (Published 2020)

World finance group expects a 4.9 percent contraction this year instead of its previously forecast 3 percent drop, underscoring the scale of the task facing policymakers.

www.nytimes.com

 

[dr.leorio]

If you have liquid assets, I suggest you wait for the impending realestate crash and then by properties for 40-50% off.

 

[ReyRey]

Glad my family didn't take out any loans, they were very close to considering it. If shit hits the fan, we just close down and wait till things get back to the way it was. Bare profitable businesses had going concern issues during covid because they owned money to the banks. If you have the capital now is the time to go on a hunt