{"id":5504,"date":"2020-03-04T18:09:24","date_gmt":"2020-03-04T22:09:24","guid":{"rendered":"https:\/\/drealfmgrenada.com\/?p=5504"},"modified":"2020-03-04T18:11:47","modified_gmt":"2020-03-04T22:11:47","slug":"imf-announces-50-billion-program-to-fight-coronavirus-outbreak","status":"publish","type":"post","link":"https:\/\/drealfmgrenada.com\/index.php\/2020\/03\/04\/imf-announces-50-billion-program-to-fight-coronavirus-outbreak\/","title":{"rendered":"IMF Announces $50 Billion Program To Fight Coronavirus Outbreak"},"content":{"rendered":"<div id=\"RegularArticle-KeyPoints-4\" class=\"RenderKeyPoints-keyPoints\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-header\">By Jesse Pound<\/div>\n<div class=\"RenderKeyPoints-header\">KEY POINTS<\/div>\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Most of the money will be interest-free, and countries do not need to have a preexisting program with the IMF to participate, Kristalina Georgieva said.<\/li>\n<li>\u201cWe\u2019re in an early stage of engagement, but I can assure you that we will act very quickly as requests come,\u201d Georgieva said.<\/li>\n<li>There are more than 90,000 confirmed cases of the coronavirus around the world, and the outbreak has spread to six continents.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"RegularArticle-ArticleBody-5\" class=\"ArticleBody-articleBody\" data-module=\"ArticleBody\">\n<div class=\"group\">\n<p>International Monetary Fund Managing Director Kristalina Georgieva announced a $50 billion aid package Wednesday to help fight the coronavirus.<\/p>\n<p>Georgieva said on CNBC\u2019s \u201c<a href=\"https:\/\/www.cnbc.com\/squawk-alley\/\">Squawk Alley<\/a>\u201d that the money is available \u201cimmediately\u201d and is for low-income and emerging market countries.<\/p>\n<div class=\"BoxInline-container \">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-container\" data-module=\"mps-slot\">\n<div id=\"div-gpt-boxinline-2008500613\" class=\"mps-slot\" data-mps-slot=\"boxinline\" data-mps-loadset=\"0\"><\/div>\n<\/div>\n<\/div>\n<p>Most of the money will be interest-free, and countries do not need to have a preexisting program with the\u00a0<a href=\"https:\/\/www.cnbc.com\/id\/10000936\">IMF<\/a>\u00a0to participate, she said.<\/p>\n<p>\u201cWhat we\u2019re doing right now is reviewing country by country what are the financial needs, and engaging with these countries to make sure they are aware of this resource and we can immediately respond to them,\u201d Georgieva said. \u201cWe\u2019re in an early stage of engagement, but I can assure you that we will act very quickly as requests come.\u201d<\/p>\n<p>There are more than\u00a0<a href=\"https:\/\/www.cnbc.com\/2020\/03\/04\/coronavirus-latest-updates.html\">90,000 confirmed cases<\/a>of the coronavirus around the world, and the outbreak has spread to six continents. The epidemic has led to severe travel restrictions in key economic hubs in China and Italy.<\/p>\n<p>The IMF would like to see the money used first to bolster health-care systems and then for targeted fiscal stimulus programs and to help liquidity, Georgieva said. The organization is also working with the World Bank to help countries obtain some of the medical equipment, such as medical masks and respiratory equipment, that is used to combat the virus.<\/p>\n<p>The World Bank announced a\u00a0<a href=\"https:\/\/www.cnbc.com\/2020\/03\/03\/coronavirus-latest-updates-outbreak.html\">$12 billion program on Monday<\/a>\u00a0to help poor nations deal with the health and economic consequences of the epidemic.<\/p>\n<div id=\"MidResponsive-8\" class=\"\" data-module=\"mps-slot\">\n<div id=\"div-gpt-midresponsive-2008500613\" class=\"mps-slot\" data-mps-slot=\"midresponsive\" data-mps-loadset=\"0\"><\/div>\n<\/div>\n<p>Countries around the world should also consider creating measures to help the economy during an economic slowdown, such as offering lines of credit to smaller businesses and programs to pay workers who have to stay home.<\/p>\n<p>\u201cWe think it is now the time to put in place precautionary measures should the outbreak become more severe,\u201d Georgieva said.<\/p>\n<p>She said earlier Wednesday at an event in Washington, D.C., that, \u201cWe are faced with a generalized weakening in demand, and that goes through confidence and through spillover channels, including trade and tourism, commodity prices, tightened financial conditions.<\/p>\n<p>\u201cThey call for an additional policy response to support demand and ensure an adequate supply of credit,\u201d she added.<\/p>\n<p>The announcement comes amid coordinated action from global central banks. The U.S. Federal Reserve announced a 50 basis point cut Tuesday and the Bank of Canada followed up with a move of the same magnitude Wednesday.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>By Jesse Pound KEY POINTS Most of the money will be interest-free, and countries do not need to have a preexisting program with the IMF to participate, Kristalina Georgieva said. \u201cWe\u2019re in an early stage <a class=\"mh-excerpt-more\" href=\"https:\/\/drealfmgrenada.com\/index.php\/2020\/03\/04\/imf-announces-50-billion-program-to-fight-coronavirus-outbreak\/\" title=\"IMF Announces $50 Billion Program To Fight Coronavirus Outbreak\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":5507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[45],"tags":[],"class_list":["post-5504","post","type-post","status-publish","format-standard","has-post-thumbnail","category-health"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?fit=1200%2C1223&ssl=1","rttpg_featured_image_url":{"full":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?fit=1200%2C1223&ssl=1",1200,1223,false],"landscape":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png",1200,1223,false],"portraits":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png",1200,1223,false],"thumbnail":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?fit=294%2C300&ssl=1",294,300,true],"large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?fit=1005%2C1024&ssl=1",1005,1024,true],"1536x1536":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?fit=1200%2C1223&ssl=1",1200,1223,true],"2048x2048":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?fit=1200%2C1223&ssl=1",1200,1223,true],"mh-magazine-slider":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?resize=1030%2C438&ssl=1",1030,438,true],"mh-magazine-content":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?resize=678%2C381&ssl=1",678,381,true],"mh-magazine-large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?resize=678%2C509&ssl=1",678,509,true],"mh-magazine-medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?resize=326%2C245&ssl=1",326,245,true],"mh-magazine-small":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/1200px-International_Monetary_Fund_logo.svg_.png?resize=80%2C60&ssl=1",80,60,true]},"rttpg_author":{"display_name":"adminrfm","author_link":"https:\/\/drealfmgrenada.com\/index.php\/author\/adminrfm\/"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/drealfmgrenada.com\/index.php\/category\/health\/\" rel=\"category tag\">Health<\/a>","rttpg_excerpt":"By Jesse Pound KEY POINTS Most of the money will be interest-free, and countries do not need to have a preexisting program with the IMF to participate, Kristalina Georgieva said. \u201cWe\u2019re in an early stage 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