IMF predicts fall of living standards in 170 countries due to Covid-19 pandemic

Source : 112 Ukraine

The global economic activity will decline in record levels since the Great Depression
23:18, 21 April 2020

Open source

The pandemic of coronavirus will lead to the lower living standards in 170 countries as IMF Managing Director Kristalina Georgieva wrote.

According to her, the global economic activity will decline in record level not seen since the Great Depression.

“This year 170 countries will see income per capita go down—only months ago we were projecting 160 economies to register positive per capita income growth,” Georgieva noted.

Related: How to prevent the food crisis in Ukraine during epidemic

She also added that the IMF has lending capacity in the sum of $1 trillion and it is four times more than at the beginning of the world financial crisis. The decision was made to twice the sum of rapid-disbursing capacity to meet the expected demand of about $100 billion. As for today, 103 countries appealed to the Fund for emergency financing, the applications of the half of them will be considered until the end of this months.

Moreover, the Catastrophe Containment and Relief Trust will be reformed to help 29 most vulnerable countries-members by rapid debt-service relief.

As we reported, Ukraine’s Economy Ministry reported that in 2020, Ukraine will show a deeper decline (by 4.2%) than the global economy, which will reduce by 3.0% according to the IMF prediction.



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