IMF meets with global economy on recession

Battling the recession: The exterior view of the building of the International Monetary Fund is seen in Washington DC. The IMF has been encouraging governments to spend whatever they need to confront the crisis. — AFP

CALIFORNIA: The guardians of the global economy will gather this week under the cloud of the worst recession since the Great Depression, and a recovery dependent on scientists finding a coronavirus vaccine.

The International Monetary Fund (IMF) and World Bank will hold their annual meetings, with both calling on the Group of 20 largest economies to extend a freeze in debt payments from the world’s poorest nations that’s set to expire at year end.