'The darkest hour of my life,' IMF says coronavirus crisis could be worse than 2008.

247 - Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, stated during a press conference this Friday, the 3rd, that the world has entered a recession and that the coronavirus pandemic has generated a crisis like no other. according to Suno Research.

The Director-General of the World Health Organization (WHO), Tedros Adhanom, also reinforced the statement, stressing the importance of first combating the virus and then addressing the economic problem.

Georgieva declared that the economy had never stopped like this before and added, "This is the darkest hour of my life, a great threat to the entire world, and it demands that we defend ourselves and unite."

She further emphasized, “Our joint appeal to policymakers everywhere is that they recognize that protecting public health and the economy go hand in hand. We need to do both.” According to her, 90 countries have already resorted to emergency loans to mitigate the impacts of the crisis caused by the coronavirus.

The fund's director also said that economic recovery depends on containing the virus. "Our forecast for a recovery next year depends on how well we manage to contain the coronavirus and reduce the level of uncertainty," she stated. Georgieva also said that the pandemic could bring consequences equal to or worse than the 2008 financial crisis. Recovery, however, is expected in 2021. "To get there, it is crucial to prioritize containment and strengthen health systems – everywhere. The economic impact is and will be severe, but the faster the virus stops, the faster and stronger the recovery will be."