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Global economy will cope with consequences of Covid-19 pandemic, - IMF expert

Source : 112 Ukraine

The crisis came at a time when the global economy was ready for shocks
18:30, 21 March 2020
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The consequences of the spread of coronavirus will be serious, but the world economy will be able to cope with them, says Martin Mühleisen, director of the strategy, policy and analysis department of the International Monetary Fund (IMF). He stated this in an interview published on the IMF website.

The continued growth of the global economy and the high level of employment provide a certain margin that will help to survive a very weak economic activity over the next months due to the coronavirus pandemic, the expert said.

According to Mühleisen, the crisis came at a time when the world economy was ready for shocks, and financial institutions were in "better shape" than they were before the 2008 global economic crisis.

He emphasized that the main thing today is to help limit the spread of coronavirus.
 
Related: Almost 12 000 deaths from coronavirus recorded in the world


“We need to make sure that at some point there is confidence that the shock will be temporary and the consequences will not last several months,” he said.

The representative of the IMF added that central banks and state governments should coordinate the response that is already being taken.

Prior to this, Martin Mühleisen stated that in the event of a serious recession due to the coronavirus, the IMF could provide up to $ 50 billion for emergency financing of activities in emerging market countries and developing countries.

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