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.
The global coronavirus pandemic is causing an unprecedented economic crisis and will require a massive response to secure a recovery, IMF chief Kristalina Georgieva said on Thursday, BGNES reports.
She warned that "global growth will turn sharply negative in 2020," with 170 of the International Monetary Fund's 180 members experiencing a decline in per capita income.
The markets despise uncertainty and that truth was reflected yesterday in the huge losses on stock market boards globally.
The reactions of investors are often exaggerated but this time they are not unfounded.
The coronavirus epidemic arose just as the global economy had reached a critical juncture.