adminThe International Monetary Fund said it expects a global recession this year that will be at least as severe as the downturn during the financial crisis more than a decade ago, followed by a recovery in 2021.
Nearly 80 countries have asked the Washington-based IMF for emergency finance, managing director Kristalina Georgieva said in a statement Monday following a conference call of Group of 20 finance ministers and central bankers. Georgieva said the fund strongly supports extraordinary fiscal actions already taken by many countries and welcomes easing moves by major central banks.
“These bold efforts are not only in the interest of each country, but of the global economy as a whole,” she said in the statement. – Reuters.
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