US, WASHINGTON (ORDO NEWS) — The International Monetary Fund (IMF) expects the coronavirus pandemic to cause the recession to be at least as strong as it was after the global financial crisis in 2008.
The global economy should then recover again next year, IMF chief Kristalina Georgieva said on Monday. “The faster the virus is stopped, the faster and stronger the recovery will be.”
The IMF welcomed the aid packages from numerous countries and the support measures taken by many central banks around the world.
Developed countries are in a better position than poorer countries, which have to struggle with a massive flight of capital. “Investors have already withdrawn $ 83 billion from developing countries since the crisis broke out.” The IMF will significantly increase its emergency funding. There are already inquiries from almost 80 countries.
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