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IMF leader says coronavirus is ‘crisis like no other’

Saturday, 4th April 2020

The head of the International Monetary Fund says the recession sparked by way of the coronavirus pandemic is “manner worse” than the 2008 global recession.

IMF coping with director Kristalina Georgieva is describing the state of affairs as “a crisis like no other.” “Never in the history of the IMF have we witnessed the world economic system coming to a standstill,” she said. “We are actually in recession, it is manner worse than the international monetary crisis, and it's far a disaster that requires anybody to come together,” Georgieva says ninety nations have already approached the group for emergency financing.

She is calling on nations to prioritise health expenditures and to ensure doctors, nurses and other medical experts are paid. She adds that the world's maximum fragile countries must be protected, noting that “USD 90 billion have flown out” and damaged emerging economies.

Monika Walker is an experienced journalist specializing in global political developments and international relations. With a keen eye for accuracy and analysis, Monika has been reporting for over a decade, bringing stories to light that matter to readers around the world. She holds a degree in International Journalism and is passionate about giving a voice to underrepresented communities through factual reporting.