New Delhi: Due to the ongoing lockdown worldwide for the prevention of coronavirus epidemic, a dangerous global recession is expected. The severity of the current recession can only be gauged from the fact that it will be worse than the 2008 slowdown. If there is a global recession, then thousands of companies may be in danger of being shut down and lost jobs.

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It is worth mentioning that since the last three months of the lock-down in China, most of the finance research companies have feared an economic downturn. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) said, "Now we are in a recession, it is worse than the global economic crisis." Georgiwa stressed that there is a need to work together to save lives and livelihoods amidst the fight against coronavirus worldwide.

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Experts say that China's economy was in complete disarray from January to March. Now since last month, most of the countries of America and Europe are closed due to Coronavirus infection. In such a situation, it is difficult to avoid a global recession. The World Bank has already warned that due to Coronavirus infection, developing countries are going to be affected very badly.

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