Monday, June 15, 2020

IMF says $10 trillion was spent on pandemic, but more needs to be

Governments around the world have already spent 10 trillion dollars in fiscal measures to respond to the pandemic of the new coronavirus and its economic consequences, but significant additional efforts are still needed, said the head of the International Monetary Fund (IMF) on Thursday (11).
IMF Director-General Kristalina Georgieva said new estimates suggest that up to 100 million people could be pushed into extreme poverty as a result of the virus crisis and that the focus of additional spending should be on minimizing job losses and preventing increased inequality.
To promote a more inclusive recovery, investments should focus on improving access to health and education, strengthening environmental protections, and expanding access for low-income people and small businesses to financial products and technology, she wrote in a new blog on the IMF website.
G1 - 11/06/2020 News Item translated automatically
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