IMF forsees global recession.

Online Radio - EI March 25, 2020 5

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Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned of an imminent global recession of that of 2008 magnitude.

In a statement to the G20 finance ministers, she said the human costs of the Coronavirus pandemic were already immeasurable, and as such, nations of the world needed to work together to protect people and limit the economic damage.

According to her, “this is a moment for solidarity – which was a major theme of the meeting of the G20 Finance Ministers and Central Bank Governors.”

The IMF disclosed that investors had demobilised $83 billion from emerging markets since the beginning of the crisis, the largest capital outflow ever.Advertisement

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