Left Menu
Development News Edition

IMF asks G20 to back doubling of its emergency financing to fight coronavirus

Reuters | Washington DC | Updated: 26-03-2020 20:32 IST | Created: 26-03-2020 20:20 IST
IMF asks G20 to back doubling of its emergency financing to fight coronavirus

The International Monetary Fund on Thursday asked G20 leaders to back a doubling of its emergency financing capacity to strengthen its response to the rapidly spreading coronavirus pandemic that is set to cause a global recession in 2020. IMG Managing Director Kristalina Georgieva, in a statement to leaders of the world's 20 largest economies, said the depth of the economic contraction and the speed of the recovery depended on containment of pandemic and "how strong and coordinated our monetary and fiscal policy actions are."

She said it was paramount to support emerging markets and developing economies, which were particularly hard hit by the crisis, sudden economic stops, capital flight and, for some, sharp drops in commodity prices.


TRENDING

OPINION / BLOG / INTERVIEW

Uganda COVID-19 response: Was off to a good start but reopening dwindled prospects

Uganda has shown success in using health information to enhance efficiency of disease surveillance, reporting and monitoring. The success, however, has critical challenges confronting it as the country resumes normal activities....

New farm bills in India: Focusing on farms or farmers?

... ...

Kenya’s COVID-19 response: Chaos amid lack of information

Confusing numbers and scanty information on how effective curfews and lockdowns have been in breaking transmission have amplified coordination and planning challenges in Kenyas response to COVID-19. Without accurate data, it is impossible t...

Farkhad Akhmedov: Calculating the price of impunity from the law

In insistences such as the battle over the Luna, Akhmedov has resorted to extreme legal machinations to subvert the High Courts decision and keep his assets from being seized. ...

Videos

Latest News

Polls open in first phase of Bihar elections

Polling began Wednesday morning in 71 assembly constituencies of Bihar in the first phase of three-phase elections amid tight security and COVID-19 guidelines in place. Of the nearly 2.15 crore electors eligible to exercise the franchise,...

Trump questions counting late ballots as Biden preaches unity in Georgia

Republican President Donald Trump questioned the integrity of the U.S. election again on Tuesday, saying it would be inappropriate to take extra time to count the tens of millions of ballots cast by mail in his race against Democrat Joe Bid...

Rugby-'Don't give Clarke the ball!' Wallabies attack coach warns players

Australia attack coach Scott Wisemantel has warned the Wallabies not to give the ball away to All Black Caleb Clarke in Saturdays third Bledisloe Cup clash in Sydney, particularly if the explosive winger is running at pace.Clarke had a bril...

U.S. early voting tops 70 million, continuing historic pace

More than 70 million Americans have cast ballots in the U.S. presidential election, more than half the total turnout of the 2016 election with one week to go until Election Day, according to a Tuesday tally from the U.S. Elections Project.T...

Give Feedback