International Monetary Fund Managing (IMF) Director Kristalina Georgieva warned on Friday that the COVID-19 outbreak caused the economy to come to a standstill. «We are now in recession. It is way worse than the global financial crisis,» she pointed out.
Georgieva noted that the IMF has a $1 trillion war chest and is ready to mobilize «as much as necessary» to protect the global economy. She stressed that the pandemic poses a «threat to the whole world» but noted it is most important to help the countries with most vulnerable economies as they will suffer the most.
The IMF managing director added that over 90 countries are seeking IMF’s emergency financing to tackle the coronavirus outbreak and its impact.
Fuente: Breaking The News
IMF: COVID-19 way worse than 2008 financial crisis
