11.29°C Vancouver 11.29°C Vancouver
Jun 24, 2020 4:23 PM -
The International Monetary Fund is estimating the Canadian economy will shrink by 8.4 per cent this year- a 2.2% steeper decline than it forecast in April.
Globally, the IMF is predicting a drop of 4.9 per cent in GDP, significantly worse than the three per cent drop it had estimated two months ago.
The IMF says the COVID-19 pandemic is disproportionately hurting low-income households and imperilling the significant progress made in reducing extreme poverty in the world since 1990.
