A global economic recovery from the COVID-19 pandemic is underway, but it is partial, uneven and marked by significant uncertainty, requiring relentless fiscal support, International Monetary Fund Managing Director Kristalina Georgieva said Thursday
WASHINGTON (Pakistan Point News / Sputnik - 15th October, 2020) A global economic recovery from the COVID-19 pandemic is underway, but it is partial, uneven and marked by significant uncertainty, requiring relentless fiscal support, International Monetary Fund Managing Director Kristalina Georgieva said Thursday.
"A tentative global economic recovery is underway, supported by extraordinary macroeconomic policy responses. But the recovery is partial, uneven, and marked by significant uncertainty, with the pandemic continuing to spread in places," Georgieva said at a meeting of the IMF-led International Monetary and Financial Committee. "So the IMF message ... is very clear: Avoid premature withdrawal of support by pulling the plug too soon and risking serious self-inflicted harm."
Georgieva said governments across the world could add an estimated $9 trillion to global income by 2025 that could help narrow the income gap between richer and poorer nations. "The value of cooperation right now cannot cannot possibly be overstated together," she added.
The IMF managing director also suggested the Group of 20 (G20) nations push forth debt service suspension for at least another six months from end of 2020, with the option of further extensions to enhance recovery.
