"We are in a recession," says IMF director.
"There is no way to achieve a strong recovery without strong containment," argued the director of the International Monetary Fund (IMF).
247 - The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, stated that the world is in an economic recession due to the coronavirus pandemic.
Georgieva advocated for strong containment measures to mitigate the spread of the virus. "There is no way to achieve a strong recovery without strong containment," she said.
“It is clear that we have entered a recession,” said the IMF director, who predicts the need for investments of around US$2,5 trillion for emerging nations to recover from this “sudden standstill.” She also analyzed that the size of the global economic contraction will depend on containment measures and “how strong and coordinated our monetary and fiscal policy actions are.”