IT’S OFFICIAL: 2020 IS A RECESSION YEAR, THANKS TO COVID19
No business sector would remain immune from the effects of COVID19 or Coronavirus IMF to open its US$1 trillion-vault for emerging economies as investors withdraw US$83 billion from low-income countries By Atique Naqvi The International Monetary Fund is expecting negative global economic growth in 2020 and the organization is ready to deploy US$1 trillion – its full lending capacity – in countries that are seeking financial assistance owing to COVID19. Investors have already removed US$83 billion from low-income and emerging economies since the beginning of COVID19 or Coronavirus outbreak, according to the IMF. Following a conference call with G20 Finance Ministers and Central Bank Governors, IMF’s Managing Director Kristalina Georgieva said: “The human costs of the Coronavirus pandemic are already immeasurable and all countries need to work together to protect people and limit the economic damage. This is a moment for solidarity, which was a major theme of the meeting...
