IMF warns more funding needed to safeguard global economy

Warning that the recovery from the coronavirus disease pandemic crisis is not yet over, the International Monetary Fund called on policymakers to continue to spend money to shore up the global economy and ensure no one is left behind.

Without that aid, and additional financing from both the fund and the World Bank, developing nations and the poor in many countries could struggle to rebound from the downturn caused by Covid-19 crisis, the International Monetary Fund said at the conclusion of its spring meeting.

Continued support is needed to “mitigate and heal economic scars,” IMF managing director Kristalina Georgieva told reporters.

She added, “We want to make sure everybody has a fair shot to a better life.”

That means accelerating access to vaccines and taking advantage of the opportunity presented by the crisis to invest in green technology, which can create good paying jobs and address climate change.

Source: https://www.philstar.com/business/2021/04/09/2089984/imf-warns-more-funding-needed-safeguard-global-economy

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