Home / News / Business / World Already In Recession, Emerging Markets Need $2.5 Trillion: IMF Chief Kristalina Georgieva

World Already In Recession, Emerging Markets Need $2.5 Trillion: IMF Chief Kristalina Georgieva

Washington: The coronavirus has already plunged the global economy into recession, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Friday, adding immense pressure on emerging markets suffering from lost commerce, reduced exports and massive capital outflows.

Ms Georgieva told a news conference that emerging market countries need at least $2.5 trillion in financial resources to get through the coronavirus pandemic.

Internal reserves and borrowing in local markets will be insufficient to cover these needs, so substantial funding from the IMF, other institutions and bilateral creditors will be necessary.

About Anirudh Singh

Anirudh Singh is a passionate blogger and the man behind Amazing India Blog. He has 5 years of experience in the newspaper industry and he founded Amazing India Blog in 2015. Apart from writing and editing articles on Travel, Business and Technology at Amazing India Blog, he also contributes to other well known newspapers and online news blogs.

Leave a Reply

Your email address will not be published. Required fields are marked *