Wednesday , April 1 2020

The world is heading towards crisis: IMF chief warns

Kristalina Georgieva

WASHINGTON: The International Monetary Fund (IMF) president Kristalina Georgieva has warned that she is worried that the outbreak of the Coronavirus is leading towards a global recession.

According to a report issued by her office in Washington, she said that 80 countries have contacted the IMF to cope with the outbreak.

The statement came after an online meeting between the G20 finance ministers and central bank governors caused the Coronavirus.

It is important to note that the G20 includes the world’s most influential countries.

Related: Coronavirus: UN Secretary-General calls for a global ceasefire

Another statement said that the G20 Ministers Foreign and Central Bank governors have stated that the global economy is moving towards a crisis and that a ‘joint financial initiative’ is necessary to tackle the crisis.

Kristalina Georgieva says the IMF is focusing on policy initiatives to reduce the impact of the crisis and is ready to help those in need.

She reminded the world’s richest countries that it is time for solidarity and this is the theme of the G20 meeting.

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