COVID-19 shock to global economy 'not as bad as first feared', But crisis far from over: IMF Chief

The shock to the global economy due to COVID-19 pandemic is not as worse as initially feared, said IMF chief Kristalina Georgieva. Despite Europe and North America appearing to recover from the coronavirus jolt, the GDP crisis should be considered as "far from over", she added. The monetary body had, in June this year, projected the global GDP to shrink by 5%, a crisis unheard of since the World War II.