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IMF: Coronavirus crisis is not over yet

10 Sep 2020 12:33 PM

Kristalina Georgieva, Director-General of the International Monetary Fund and chief economist Gita Gopinath have together published an article in Foreign Policy on warning that the global economic crisis caused by the pandemic is not over yet.

"The recovery remains very fragile and uneven across regions and sectors, and to ensure the continuation of the recovery, it is imperative not to withdraw support prematurely," the two noted. They also stressed the importance of "equitable distribution of vaccines" to improve the economy around the world.

Earlier, Georgieva said that global fiscal measures totaling $11 trillion will provide the basis for global economic recovery in 2021.

The IMF has provided emergency funding to 75 countries, including 47 low-income countries, and has said it stands ready to provide more support to a wider group of middle-income countries.

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