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The coronavirus pandemic will cause a global recession in 2020 that could be worse than the one triggered by the global financial crisis of 2008-2009,

The coronavirus pandemic will cause a global recession in 2020 that could be worse than the one triggered by the global financial crisis of 2008-2009, but world economic output should recover in 2021, the International Monetary Fund said on Monday.

Use the IS-LM-BP model to explain what this shock will mean for the levels of output/income and interest rates in South Africa.

Draw the graph and explain the complete chain reaction.

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