BUSINESS: IMF Says Half the world Has Requested For a Bailout

IMF says half of the countries around the globe have come the International Monetary Fund for emergency loans to tackle the financial crisis sparked by the novel COVID-19 pandemic.

Over 100 countries around the world so far have approached IMF for emergency assistance,  the managing  director of IMF Kristalina Georgieva, revealed this in a meeting of central bank governors and G20 finance ministers on Wednesday.

She said the organisation is ready to use its resources and $1 trillion firepower of its lending capacity, and that 10 countries has received emergency loan so far, and half of the remaining countries would receive their requested financial lifelines by the end of April 2020.

The IMF also added that everything is on the table in terms of all possible measures we can take," and encouraged all central banks to spend as much as you can in order to fight the financial crisis imposed by the pandemic. 

2 Comments

  1. COVID-19 has affected greatly, the economy of the countries with recorded cases. IMF Is doing the right thing

    ReplyDelete
  2. Even the world economy is falling. COVID-19 is a disaster

    ReplyDelete

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