Can use full $1-trillion war chest for coronavirus outbreak, says IMF

In view of coronavirus crisis, the spring meeting is being held virtually-- the first one in the history of IMF and the World Bank.

Describing the Covid-19 pandemic as a crisis like no other, International Monetary Fund head Kristalina Georgieva on Wednesday said the international body is proposing to use all its $1 trillion lending capacity to support countries battling the outbreak.
 

"It is a crisis like no other. In scope, we are now in the worst recession since the Great Depression. We are experiencing a 3 percent contraction of global GDP, and 170 countries are going to see income per capita falling versus what we expected three months ago for 160—for them to go up," Georgieva told reporters at the start of the