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.
IMF Managing Director Kristalina Georgieva on Monday said over 20 additional countries have asked about receiving aid from the global lender as the coronavirus pandemic halts economic activity, and she called for strong, coordinated fiscal stimulus to limit the damage.
The International Monetary Fund and World Bank said on Tuesday they were testing the ability of thousands of staff members in Washington to work remotely as they prepare for virtual Spring Meetings next month because of the fast-spreading coronavirus.
The global spread of the novel coronavirus has crushed hopes for stronger growth this year and will hold 2020 global output gains to their slowest pace since the 2008-2009 financial crisis, International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday.
The International Monetary Fund hopes governments and central banks will work on a response to the coronavirus outbreak once the economic impact becomes clear, IMF Managing Director Kristalina Georgieva said on Friday.