WASHINGTON -- The global coronavirus pandemic has inflicted an economic crisis unlike any in the past century and will require a massive response to ensure recovery, IMF chief Kristalina Georgieva sai
d Thursday.
The International Monetary Fund expects "global growth will turn sharply negative in 2020," with 170 of the fund's 180 members experiencing a decline in per capita income, Georgieva said. "Lifelines for households and businesses are imperative" to "avoid a scarring of the economy that would make the recovery so much more difficult."
She noted that about $100 billion in investments already had fled emerging markets -- more than three times the capital exodus seen in the 2008 global financial crisis.
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