According to the International Monetary Fund (IMF), the world is hit with the worst economic recession of all times. As the governments worldwide continue to suffer from COVID-19 pandemic, the IMF brought to notice that the world will experience the worst economic recession since the 1930s.

Gita Gopinath, the IMF’s chief economist, said in the latest World Economic Outlook report, " “It is very likely that this year the global economy will experience its worst recession since the Great Depression, surpassing that seen during the global financial crisis a decade ago."