IMF leader Georgieva
  • Countries accounting for one-third of global GDP expected to report at least 2 consecutive quarters of contraction this year or next
  • Expects global output loss of $4 trillion by 2026
  • Fiscal measures should be targeted, temporary. Policymakers must avoid indescriminate response
  • Probability of portfolio outflows from emerging markets has risen to 40%

That's not a pretty picture.