IMF Now Sees Japan GDP Contraction Worse Than During 2009 Crisis

The International Monetary Fund said it now sees Japan’s economy shrinking more this year than during the global financial crisis.

The IMF on Wednesday forecast the world’s third-largest economy will shrink 5.8% in 2020. In April, when the damage from the coronavirus was less clear, the lender forecast a 5.2% contraction for Japan, slightly less bad than in 2009.