the international monetary Fund has warned that the pandemic coronavirus in 2020 will cause a global recession that could be worse than that which was caused by the global financial crisis of 2008-2009, writes Reuters.
the managing Director of the IMF Kristalina Georgieva welcomed extraordinary fiscal measures already taken by many countries to strengthen health systems and protection of the affected companies and workers, as well as the steps taken by Central banks to mitigate the monetary policy. “Even more [effort] will be required, especially on the fiscal front,” she said.
“the Human costs of the pandemic coronavirus is already immeasurable, and all countries should work together to protect people and limit economic damage,” — said Georgieva.
the IMF expects in 2020, “the recession at least as bad as during the global financial crisis, or worse.”
the Fund expects recovery of the world economy in 2021, but this will need to contain the pandemic.
“the Economic consequences are and will be serious, but the sooner the virus will stop, the faster and stronger will be the recovery,” said Georgieva.
According to her, the IMF will actively increase the emergency funding. 80 countries have asked the Fund for help, and the IMF is ready to use all your credit resources in the amount of $ 1 trillion, said Georgieva.
According to the Johns Hopkins University, the number of cases COVID-19 around the world exceeded 350 thousand. Died more than 15 thousand infected. With more than 100 thousand people were recovered.