IMF predicts Australia's coronavirus stimulus will 'help a great deal' as country faces economic blow

The International Monetary Fund projects the Australian economy to shrink 6.7 per cent this year before rebounding 6.1 per cent in 2021, the greatest blow since the Great Depression.

A couple walk through a near empty Martin Place in Sydney, Monday, 13 April, 2020. Source: AAP

The Australian government's economic lifeline will "help a great deal" in the recovery phase according to IMF Division Chief for Australia Harald Finger.

"It's a very large package the government of Australia has put together," Mr Finger told SBS News.

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Treasurer Josh Frydenberg

AAP