The International Monetary Fund (IMF) is quite concerned about the negative outlook for global growth this year and the forecast for recovery is based on reducing the level of uncertainty amid the novel coronavirus (COVID-19) pandemic, IMF Managing Director Kristalina Georgieva said during a conference with the G20 finance ministers and central bank governors on Tuesday
WASHINGTON (Pakistan Point News / Sputnik - 31st March, 2020) The International Monetary Fund (IMF) is quite concerned about the negative outlook for global growth this year and the forecast for recovery is based on reducing the level of uncertainty amid the novel coronavirus (COVID-19) pandemic, IMF Managing Director Kristalina Georgieva said during a conference with the G20 finance ministers and central bank governors on Tuesday.
"We remain very concerned about the negative outlook for global growth in 2020 and in particular about the strain a downturn would have on emerging markets and low-income countries," Georgieva said. "Our forecast of a recovery next year hinges on how we manage to contain the virus and reduce the level of uncertainty.
Georgieva welcomed the G20's decisive actions undertaken to defend their economies form the coronavirus-related impact and expressed support to the G20 action plan to strengthen their health systems' capacity. She said the plan will allow stabilizing the world economy through timely, targeted and coordinated measures.
Georgieva assured the G20 the IMF will do its part of the work by emphasizing reform are implemented, which will allow to strengthen crisis response.
The reforms will enhance access to the IMF emergency programs, increase its capacity to support poorest countries and to help states with foreign exchange shortages, the IMF chief said.
Georgieva also urged the G20 to work on further easing the debt burden of the world's poorest countries.
