Dozens of poorer nations seek IMF help amid coronavirus crisis
by Larry Elliott Economics editor from on (#51BCM)
IMF's Kristalina Georgieva says world has entered recession 'as bad or worse' than 2008-09
More than 80 poor and middle-income countries have sought financial help from the International Monetary Fund in recent weeks as they struggle to cope with the economic fallout from the Covid-19 epidemic.
Kristalina Georgieva, the head of the IMF, said the world economy had entered a recession "as bad or worse" than the global financial crisis of 2008-09 and that the fund needed to increase its firepower to deal with the unprecedented number of requests for help.
Income subsidies
Continue reading...