Emerging markets faced huge portfolio outflows of nearly $100 billion over the past two months, International Monetary Fund (IMF) 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 markets faced huge portfolio outflows of nearly $100 billion over the past two months, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Thursday ahead of the IMF and World Bank annual Spring Meetings.
"In the last two months, portfolio outflows from emerging markets were about $100 billion - more than three times larger than for the same period of the global financial crisis," Georgieva said.
She also noted that commodity exporters are suffering a double blow from the collapse in commodity prices, while remittances are expected to dwindle.
