IMF Managing Director Kristalina Georgieva: The Recession will be at Least as Bad as in 2008
International Monetary Fund Managing Director Kristalina Georgieva said on Monday that the IMF expects the global economic recession in 2020 to be "at least as bad as during the 2008-2009 global financial crisis or worse" .
On the other hand, the IMF expects an economic recovery to follow in 2021, she said, adding that the organization welcomes "extraordinary fiscal actions" and monetary easing measures in many countries that their central banks have decided to take.
"Investors have already removed USD 83 billion from emerging markets since the beginning of the crisis, the largest capital outflow ever recorded. We are particularly concerned about low-income countries in debt distress -- an issue on which we are working closely with the World Bank," Georgieva said.
The IMF is standing ready to deploy all its USD 1 trillion lending capacity, she said, adding that the IMF is looking at other available options.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » Bulgarian Government, Employers and Unions to Discuss 2021 Budget
- » Keeping Your Cryptocurrency Portfolio Profitable in the Middle of Crisis
- » PM Boyko Borissov: Bulgaria Has Tripled Its Assets Per Capita Over The Last 11 Years
- » Moody’s Raises Bulgaria's Long-Term Rating to BAA1
- » Bulgaria's Social Minister Sacheva: Child Benefits Without Income Criteria
- » Bulgarian Government Is Extending Measure 60/40 to December 31