The world economy is facing "severe" economic damage from the coronavirus pandemic that could be even more costly than in 2009 and will require an unprecedented response, IMF chief Kristalina Georgieva said on Monday, 23 March.
In comments to finance ministers from the Group of 20 nations, Georgieva called on advanced economies to provide more support to low income countries, and the IMF stands "ready to deploy all our $1 trillion lending capacity."
As much of the world faces mass shutdowns, Georgieva warned the outlook for global growth in 2020 "is negative -- a recession at least as bad as during the global financial crisis or worse."
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)