new Delhi. Cristalina Georgieva, managing director of the International Monetary Fund, has once again described the current economic situation as worse than 2008. He has said that the whole world is sinking into a great depression, never seen this before. A few days ago, the IMF Chief has given a statement about the corona virus and the economic problems that arise from it.
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Current situation is worse than 2008
IMF Chief Kristalina Georgieva has warned of a recession worse than the 2008 global financial crisis. In a joint press conference with the World Health Organization, Georgieva's statement said that now we are in recession, it is worse than the global financial crisis. The Managing Director of the IMF, while talking about the 'double crisis' like health and economic, said that this is unprecedented in the history of IMF due to the increasing outbreak of Kovid-19. He has never seen such a time. Georgieva stressed that there is a need to work together to save lives and livelihoods in the midst of fighting the Kovid-19 worldwide.
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It has given statement even before
In the last week of last month, the IMF Chief stated that an estimated fund of $ 2.5 trillion is needed to handle emerging markets around the world. On the other hand, he was also informed that in recent weeks more than $ 83 billion capital has been withdrawn in emerging markets, due to which the governments here are facing a lot of difficulty. In such a situation, several steps can be taken to normalize the situation, but domestic resources are insufficient in these markets. He said that more than 80 countries, whose income is very low, have already requested emergency assistance from the International Monetary Fund.