IMF managing director says world has entered recession

International Monetary Fund Managing Director Kristalina Georgieva in Washington, D.C.

On Friday said "it is clear" that world has "entered a recession as bad or worse" than the global financial crisis in 2009.

The coronavirus pandemic will cause global economic output to contract in 2020, top officials of the International Monetary Fund said on Friday.

"There may be a sizable rebound, but only if we succeed at containing the virus everywhere," IMF Managing Director Kristalina Georgieva said.