Emerging countries will need trillions of dollars to meet their external financial needs and recover from the crisis caused by the coronavirus (COVID-19) pandemic, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday ahead of the IMF and World Bank annual Spring Meetings
WASHINGTON (Pakistan Point News / Sputnik - 09th April, 2020) Emerging countries will need trillions of dollars to meet their external financial needs and recover from the crisis caused by the coronavirus (COVID-19) pandemic, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday ahead of the IMF and World Bank annual Spring Meetings.
"We estimate the gross external financing needs for emerging market and developing countries to be in the trillions of dollars," Georgieva said.
These countries will be able to cover only a portion of that expense, while the global community will have to close residual gaps in the hundreds of billions of dollars, she warned.
