International Monetary Fund (IMF) chief Kristalina Georgieva said on Friday that the world economy has entered into an economic downturn due to the Corona crisis. According to him, to overcome this crisis, the developed economies around the world will need a lot of money and help.
According to Georgieva, the good thing is that the top leaders of the world have believed that only concerted efforts to deal with this crisis will prove to be effective. He said, ‘It is clear that we have entered the economic downturn. The economy of the world has stopped suddenly. Emerging markets will need at least $ 2.5 trillion in aid to get out of this crisis.’
According to the IMF chief, more than 80 countries have so far sought emergency help from this global organization. The impact of this global recession will depend on two things. The first is how far and how much Corona will impact. Second, what the top leadership of the world makes concerted efforts to deal with it.
The IMF chief stated that although recovery is possible even in a recession if the coronavirus is controlled worldwide. Georgieva said, ‘We expect a recovery in 2021. In fact, the recovery will be great if we are able to control the virus everywhere and do not allow liquidity to occur. ‘