{"id":5762,"date":"2020-03-23T18:50:29","date_gmt":"2020-03-23T22:50:29","guid":{"rendered":"https:\/\/drealfmgrenada.com\/?p=5762"},"modified":"2020-03-23T18:50:29","modified_gmt":"2020-03-23T22:50:29","slug":"imf-warns-coronavirus-recession-could-be-worse-than-2009","status":"publish","type":"post","link":"https:\/\/drealfmgrenada.com\/index.php\/2020\/03\/23\/imf-warns-coronavirus-recession-could-be-worse-than-2009\/","title":{"rendered":"IMF Warns Coronavirus Recession Could Be Worse Than 2009"},"content":{"rendered":"

(AFP) \u2014<\/strong>\u00a0The world economy is facing \u201csevere\u201d economic damage from the coronavirus pandemic that could be even more costly than in 2009 and will require an unprecedented response, IMF chief Kristalina Georgieva said Monday.<\/p>\n

Georgieva called on advanced economies to provide more support to low-income countries, which face a massive outflow of capital, and said the IMF stands \u201cready to deploy all our $1 trillion lending capacity.\u201d<\/p>\n

As much of the world faces mass shutdowns, Georgieva warned finance ministers from the Group of 20 nations that the outlook for 2020 \u201cis negative \u2013 a recession at least as bad as during the global financial crisis or worse.\u201d<\/p>\n

The global economy contracted by 0.6 per cent in 2009 as a result of the 2008 global financial crisis, but major emerging markets like China and India at the time were growing at a rapid rate.<\/p>\n

In contrast, the coronavirus pandemic is causing worldwide economic and human carnage, and some forecasters now say the downturn could be 1.5 per cent.<\/p>\n

\u201cThe human costs of the coronavirus pandemic are already immeasurable and all countries need to work together to protect people and limit the economic damage,\u201d Georgieva said.<\/p>\n

However, emerging markets and low-income countries \u201cface significant challenge\u201d and may need additional financial support and even debt relief.<\/p>\n

\u201cInvestors have already removed $83 billion from emerging markets since the beginning of the crisis, the largest capital outflow ever recorded,\u201d she said.<\/p>\n

Nearly 80 countries have already requested emergency aid from the IMF to deal with the virus outbreak, Georgieva said.<\/p>\n","protected":false},"excerpt":{"rendered":"

(AFP) \u2014\u00a0The world economy is facing \u201csevere\u201d economic damage from the coronavirus pandemic that could be even more costly than in 2009 and will require an unprecedented response, IMF chief Kristalina Georgieva said Monday. Georgieva […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":5763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_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}},"categories":[40],"tags":[],"class_list":{"0":"post-5762","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?fit=1024%2C682&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"rttpg_featured_image_url":{"full":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?fit=1024%2C682&ssl=1",1024,682,false],"landscape":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png",1024,682,false],"portraits":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png",1024,682,false],"thumbnail":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?fit=300%2C200&ssl=1",300,200,true],"large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?fit=1024%2C682&ssl=1",1024,682,true],"1536x1536":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?fit=1024%2C682&ssl=1",1024,682,true],"2048x2048":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?fit=1024%2C682&ssl=1",1024,682,true],"mh-magazine-slider":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?resize=1024%2C438&ssl=1",1024,438,true],"mh-magazine-content":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?resize=678%2C381&ssl=1",678,381,true],"mh-magazine-large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?resize=678%2C509&ssl=1",678,509,true],"mh-magazine-medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.png?resize=326%2C245&ssl=1",326,245,true],"mh-magazine-small":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2020\/03\/gerogieva-1024x682-1.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":"News<\/a>","rttpg_excerpt":"(AFP) \u2014\u00a0The world economy is facing \u201csevere\u201d economic damage from the coronavirus pandemic that could be even more costly than in 2009 and will require an unprecedented response, IMF chief Kristalina Georgieva said Monday. Georgieva [...]","_links":{"self":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/5762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/comments?post=5762"}],"version-history":[{"count":1,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/5762\/revisions"}],"predecessor-version":[{"id":5764,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/5762\/revisions\/5764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media\/5763"}],"wp:attachment":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media?parent=5762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/categories?post=5762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/tags?post=5762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}