The world has been in dire straits since 2008: IMF

Washington, Ta. 29 Mar 2020, Sunday

The Corona virus has hit the world economy a great deal. The world has been hit by more severe recessions than in 2008, the International Monetary Fund said.

The IMF says the world is facing a huge financial crisis due to the Corona virus. The growth prospects of 2020 and 2021 are being reevaluated. We expect the economy to improve in 2021 but the current one year will be full of crises.

IMF Director Cristalina Georgieva said that even in 2021, the economy would only improve if the virus was being controlled everywhere and companies would burst out of debt due to cash problems. Suddenly, the biggest worry of the economy is the shutdown of companies and the collapse of people. This can also affect the social structure.

He said that the total financial need of emerging markets is $ 2500 billion at present. This need cannot be met with the domestic resources and financial resources of those countries.

In response to the impact on the economy in 2020, he said that the figures were being speculated. His figures will be released in a few days, but the blow has been huge.