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Social groups urge mass debt relief for poor countries hit by crisis

7 April 2020, 3:14 AM

Nearly 140 campaign groups and charities urged the IMF and World Bank, G20 governments and private creditors on Tuesday to help the world’s poorest countries through the coronavirus crisis by cancelling debt payments.

IMF sees coronavirus-induced global downturn ‘way worse’ than financial crisis

4 April 2020, 2:31 AM

The coronavirus pandemic has brought the global economy to a standstill and plunged the world into a recession that will be “way worse” than the global financial crisis a decade ago, the head of the International Monetary Fund said on Friday, calling it “humanity’s darkest hour.”

Some banking systems may need help in worst-case scenario: IMF

1 April 2020, 2:54 AM

Some countries’ banking systems might have to be recapitalized or even restructured, if their economies are severely handicapped by prolonged disruption from the coronavirus outbreak, officials at the International Monetary Fund said on Tuesday.

World Bank, IMF urge debt relief for poorer countries hit by coronavirus

29 March 2020, 12:29 AM

The heads of the World Bank and International Monetary Fund on Friday underscored the need to provide debt relief to poorer countries hit by the coronavirus pandemic, and said official bilateral creditors would have to play a major role.

IMF sees severe impact from pandemic on global economy, but crisis temporary

21 March 2020, 12:37 AM

The impact of the global coronavirus pandemic will be “quite severe,” but a long expansionary period and high employment rates mean the global economy should weather the current shock, a top International Monetary Fund official said on Friday.

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