The global covid-19 pandemic may cause a recession worse than the 2008 financial crisis, according to has declared the general director of the International Monetary Fund (IMF), Kristalina Georgieva.
“Human costs due to the coronavirus pandemic, immeasurable and all countries must work together to protect people and limit economic damage, “said the head of that body in a statement on March 23.
In that text, Georgieva has highlighted that 2020 will be “negative” and has predicted that the world will experience a recession “at least as bad” as in that crisis of 12 years ago, but she hopes that the world economy will recover in 2021.
To achieve this improvement, the different countries will have to “prioritize containment and strengthen health systems“
“The economic impact is and will be serious, but the faster the virus stops, the faster and stronger the recovery will be ”, reiterated Georgieva.
At the same time, he expressed himself in favor of the fiscal actions that several countries have taken to soften the impact of the pandemic and “protect the affected workers and companies”, as well as the decision of central banks to “ease monetary policy.” “These tireless efforts are not only in the interests of each country, but of the global economy as a whole“He added.
In addition, the director of the IMF affirmed that the organism will increase “in a massive way” the emergency financing, noting that some 80 countries have already requested its help. He also clarified that the International Monetary Fund “is willing to use all its credit capacity of one trillion US dollars.”
“Are extraordinary circumstances. Many countries are already taking unprecedented steps. We at the IMF, working with all our member countries, will do the same, “he said.
The new coronavirus has spread to almost every country in the world, and the pandemic is driving, said the director of the World Health Organization, Tedros Adhanom Ghebreyesus. Meanwhile, the number of infected in the world has exceeded 360,000, and there is already more than 15,000 deceased.