International Monetary Fund

EC: Romania's economy to contract by 6% in 2020; government deficit up to 9.2% of GDP

Romania's economy is projected to contract by 6% in 2020 after many years of robust growth, whereas the general government deficit is forecast to increase to around 9.2% of the GDP in 2020, according to the European Economic Forecast - Spring 2020, published by the European Commission (CE) on Wednesday.

'Optimistic' Finance Ministry scenario sees recession at 4.7 pct

The Finance Ministry's estimates about the impact of the coronavirus on the Greek economy this year are at the optimistic end of the range of projections expressed to date and near those of the Bank of Greece, according to the Stability Program Athens submitted to the European Commission last Thursday.

Half the world knocking on IMF’s door

Half of the world's countries have asked the International Monetary Fund (IMF) for a bailout amid the coronavirus pandemic, the global body's head Kristalina Georgieva said late on April 15.

"This is an emergency like no other," she said in an interview with CNBC, adding that the IMF is providing funding on the basis of rapid assessment of conditions in every country.

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