Coronavirus has steered us to a recession worse than 2009: IMF chief

Topics IMF | Coronavirus

Over 80 countries already have requested emergency aid from the International Monetary Fund.

The coronavirus pandemic has driven the gobal economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said on Friday.

"It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis, she said in an online press briefing.

With the worldwide economic coming to a "sudden stop," Georgieva said the estimated funds requirement "for the overall financial needs of emerging markets is $2.5 trillion." But she also warned that "we believe this is on the lower end."

Over 80 countries already have requested emergency aid from the International Monetary Fund.

Meanwhile, the global infections due to the Covid-19 have crossed 560,000 mark. As many as 25,410 people have died so far due to the virus.  UK Prime Minister Boris Johnson on friday tested positive for coronavirus.



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