The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday.
โIt is clear that we have entered a recessionโ that will be worse than in 2009 following the global financial crisis, she said in an online press briefing.
With the worldwide economic โsudden stop,โ Georgieva said the fundโs estimate โfor the overall financial needs of emerging markets is $2.5 trillion.โ
But she warned that โwe believe this is on the lower end.โ
Over 80 countries already have requested emergency aid from the International Monetary Fund.
AFP
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