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IMF chief: 'Clear we have entered recession'

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AFP Washington
Last Updated : Mar 27 2020 | 8:54 PM IST

The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday.

"It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis, she said in an online press briefing.

With the worldwide economic "sudden stop," Georgieva said the fund's estimate "for the overall financial needs of emerging markets is $2.5 trillion."

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First Published: Mar 27 2020 | 8:54 PM IST

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