STANDPOINT by Atique Naqvi

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...

Coronavirus has affected people across the world and the virus has spread quickly. The impact of coronavirus, COVID-19, on global economy would be relatively minor and short-lived as the Chinese economy would return to normal in the second quarter of 2020, said the managing director of International Monetary Fund in Saudi Arabia's capital  city Riyadh. IMF's Kristalina Georgieva made a statement at the G20 Finance Ministers and Central Bank Governors meeting. “While the impact of the epidemic continues to unfold, the World Health Organization’s assessment is that with strong and coordinated measures, the spread of the coronavirus in China and globally can yet be contained and the human tragedy arrested. We are still learning about how this complex virus spreads and the uncertainties are too great to permit reliable forecasting. Many scenarios can play out, depending on how quickly the virus is contained and how fast the Chinese and other affected economies return to n...