Iran Press/ America: “We anticipate the worst economic fallout since the Great Depression,” IMF Managing Director Kristalina Georgieva said Thursday in remarks previewing next week’s virtual meetings of the 189-nation IMF and its sister lending organization, the World Bank.
According to Reuters, With half of the IMF’s 189 member countries seeking aid, the executive board has agreed to double access to its emergency financing to meet the expected demand of about $100 billion, Managing Director Kristalina Georgieva said in a speech on Thursday.
The IMF’s baseline outlook is for a partial recovery in the global economy in 2021 if the pandemic fades in the second half of this year to allow a gradual lifting of containment measures, Georgieva said. She stressed that uncertainty about the coronavirus duration means things may wind up being even worse.
The pandemic that has spread from the Chinese city of Wuhan to almost every corner of the globe has led to business closures and millions of lost jobs.
219
Read More:
US to block emergency COVID-19 IMF loan for Iran
Coronavirus crisis will be worse than 2008 recession: IMF
CBI urges IMF quick response to Iran's legitimate financial rights
