The IMF also projected Britain – which left the European Union in January and was never part of the eurozone – would see its economy contract by 6.5%.
The European region overall was predicted to have the worst performance of any region in the world.
In a note of optimism, however, the IMF said the economic destruction wrought by the pandemic in the eurozone would fade in the 2nd half of 2020, as a gradual lifting of containment measures gained momentum.
The 19 countries that use the euro currency would then recover, but at a far slower pace, with the IMF predicting a growth of 4.7% in 2021.
Before the emergence of the COVID-19 outbreak, the IMF said the eurozone was going to grow by a slow but respectable 1.3%.
But with tens of thousands dead due to the novel coronavirus across Europe and the economy in shutdown, the impact was going to be painful.
French debt to soar
The IMF said the French economy would see its economy shrivel by 7.2% instead of a 1.3% expansion.
Export-powerhouse Germany, which was suffering sluggish growth from the United States-China trade war, would see its economy contract by 7%, the IMF said.
The IMF praised the already sizeable fiscal responses by both countries, which together make nearly half of the eurozone economy, though France will see its debt level soar to levels not seen in the modern era.
Italy, one of the hardest hit countries by the outbreak, would suffer badly economically, the IMF said.
Italy's economy was on course to slump by 9.1% in 2020, followed by an expansion of just below 5% the following year.
The IMF said certain eurozone countries were better equipped to face the challenge of the crisis than others.
Richer countries in the north, such as Germany and the Netherlands, are resisting calls for unprecedented levels of European solidarity to confront the crisis.
The IMF urged for "meaningful European support" to be targeted at countries particularly hard-hit by what is a "purely exogenous common shock."
It observed that "advanced economies with relatively stronger health care capacity, better access to international liquidity...and comparatively lower borrowing costs will be better equipped to combat the health crisis." – Rappler.com