African leaders, the IMF and the World Bank on Friday appealed for rapid international action to help African countries respond to the coronavirus pandemic that will cause the continent’s economy to shrink by 1.25% in 2020, the worst reading on record.
International Monetary Fund chief Kristalina Georgieva urged governments and the private sector to step up their efforts to help African countries and other emerging markets weather the economic and health impacts of the coronavirus pandemic.
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented” toll on the region’s service sector and major export destinations, the International Monetary Fund said on Thursday.
South Africa has not approached the International Monetary Fund (IMF) for emergency financing to help it fight the COVID-19 pandemic that threatens to push the economy deeper into recession, an IMF official said on Tuesday.
The International Monetary Fund’s $1 trillion in lending capacity is “quite substantial” to help members deal with the coronavirus pandemic, but further resources may be needed as the full brunt of the crisis reaches developing countries, its chief economist told Reuters in an interview on Tuesday.