June 16, 2020 / 2:00 PM / 21 days ago

IMF sees 'profound uncertainty' about global recovery

WASHINGTON, June 16 (Reuters) - The International Monetary Fund will likely forecast a worse contraction in the global economy than previously estimated for 2020 and sees “profound uncertainty” about the path of recovery, IMF chief economist Gita Gopinath said in a new blog.

Gopinath said the current economic crisis was more global and playing out differently than past crises, with the services sector hit harder than manufacturing in both advanced and emerging market economies, and inflation low across the board.

She also cited a striking divergence of financial markets from the real economy, which could portend greater volatility in financial markets and potentially sharp corrections. (Reporting by Andrea Shalal Editing by Chizu Nomiyama)

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