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Spain sees infections rise, grim economic forecast

Summary:
IMF predicts Spain’s economy will shrink by an unprecedented 12.8% this year As the International Monetary Fund (IMF) published grim expectations for Spain’s economy this year, the country registered an uptick in new COVID-19 infections again on Wednesday. The Ministry of Health confirmed 334 new COVID-19 infections, up nearly 100 from Tuesday. Two more deaths were also reported, which raised the total number of confirmed fatalities to 28,327. Besides having one of the highest mortality and infection rates per capita in the world from the infectious disease, the IMF now predicts Spain is set to take one of the world’s biggest financial hits from the coronavirus. Spain sees infections rise, grim economic forecast

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IMF predicts Spain’s economy will shrink by an unprecedented 12.8% this year

As the International Monetary Fund (IMF) published grim expectations for Spain’s economy this year, the country registered an uptick in new COVID-19 infections again on Wednesday.

The Ministry of Health confirmed 334 new COVID-19 infections, up nearly 100 from Tuesday. Two more deaths were also reported, which raised the total number of confirmed fatalities to 28,327.

Besides having one of the highest mortality and infection rates per capita in the world from the infectious disease, the IMF now predicts Spain is set to take one of the world’s biggest financial hits from the coronavirus.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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