The fund said all regions are projected to experience negative growth in 2020.
“There are, however, substantial differences across individual economies, reflecting the evolution of the pandemic and the effectiveness of containment strategies; variation in economic structure ; reliance on external financial flows, including remittances; and pre-crisis growth trends.”
Experts opine that the disruptions due to the pandemic, as well as significantly lower disposable income for oil exporters after the fuel price decline, will imply a sharp recession for nations like Russia, Saudi Arabia and Nigeria.
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