The process of revival of economies to remain slow paced in coming years: IMF.

ISLAMABAD -- International Monetary Fund (IMF) has said recession is likely to cross the estimated level this year and process of revival of economies will remain slow paced in coming years.

This was said by Gitta Gopi Nath , Chief Economist of IMF in an interview.

She said lock down period has prolonged this year in different parts of the world beyond our estimations.

She underlined no medical cure has been found so far to COVID-19, therefore, the norms of social distancing will continue to remain in place in the coming months of this year. No vaccine has been developed so far for corona virus. The revival of economy in the prevailing situation is uncertain.

She underscored this situation is source of embarrassment particularly for the poor and backward countries who have obtained foreign loans and they have to pay back them. IMF is helping member countries through concession in loans...