IMF declares world economy in recession
The director of the organization also stressed that this will be much worse than that experienced in 2009 with the financial crisis of 2008
The managing director of the International Monetary Fund (IMF), Kristalina Georgieva stated that the world entered into an economic recession due to the coronavirus.
“It is clear that we have entered a recession” that will be worse than in 2009 after the global financial crisis, said the head of the IMF in a virtual press conference.
On the other hand, he assured that, due to the current situation, the estimate they have to cover the general financial needs in emerging markets is 2.5 billion dollars.
Governments in emerging markets, which have suffered a capital exodus of more than $ 83 billion in recent weeks, can meet much of these needs, but clearly will not have sufficient resources, especially since many were heavily indebted before the crisis.
According to the director of the IMF, more than 80 countries have requested help from the agency to cope with the emergency, most of them being low-income countries.
K.Tovar
Source: La Tercera
