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- Kristalina Georgieva, head of the International Monetary Fund, on Friday signaled a possible downward revision of global economic forecasts.
- Georgieva also warned the US and China to be weary of rekindling a trade war that could further hinder economic growth.
- IMF had already forecast a 3% contraction for 2020 but economic data for many countries are already coming in below predictions.
- IMFs 3% decline forecast would mark the steepest downturn since the Great Depression.
- The IMF believes a rebound will begin in 2021 but says the outcome could be far worse depending on the course of the pandemic.