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Covid-19 A Problem For Economy

"Worried About Developing Countries": IMF Chief On COVID-19 Impact

As like everyone else now International Monetary Fund managing director Kristalina Georgieva also concerned about world economic situation. Kristalina recently spoke about that downfall of the economy where she said that in this pandemic whole world is fighting but for that WHO has already approved emergency funding for 21 of 103 countries to develop all the equipment to make sure to fight for this virus in which they have given $6 trillion which is enough for a good time but if this pandemic goes for long then countries will require more fund. Further, she said because of this virus whole world went in the loss of $100 trillion and that gonna affect badly developing and emerging countries.

She said “What worries me very much is the large capital outflows from the developing markets. Some $100 billion flew away because of fears linked to the uncertainty of this crisis and went where it is safer. We want to see this process reversed,” after which she said that this pandemic took economy of 170 countries. But before all this, she said we all need to focus on lives first so that we can grow together with safety and “It will be very, very important to try to avoid a full course towards protectionism and self-isolation, because this, without a doubt, will make us as a world poorer,”.


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