(CNBC) Asia’s economy is expected to shrink this year “for the first time in living memory,” the International Monetary Fund said, warning that the region could take several years to recover. The fund said in a blog post published Tuesday that Asia’s economy will likely contract by 1.6% this year — a downgrade from its previous forecast of no growth in April.
IMF says Asia’s economy will shrink ‘for the first time in living memory’ due to the coronavirus
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