IMF tables four-point plan to mitigate fallout from Covid-19 – The National

IMF tables four-point plan to mitigate fallout from Covid-19 – The National

The global economy is facing "a crisis like no other", with great uncertainty about the extent and duration of the predicament caused by the Covid-19 pandemic, which requires a four-point recovery plan, the head of the International Monetary Fund said.. Ms Georgieva is forecasting an "exceptionally difficult" year for the global economy in 2020, with growth likely to be more severely hit than during the 2008 global financial crisis.. The IMF, which meets every three months and provides an updated forecast on the global economy, had projected positive per capita income growth in more than 160 of its 189 member countries in 2020.. "Today, that number has been turned on its head: we now project that over 170 countries will experience negative per capita income growth this year," Ms Georgieva said.. If the pandemic recedes in the second half of the year, if containment measures are lifted and the economy stabilises, the IMF's baseline assumption is for a partial recovery in 2021, she added.. Protecting affected companies and individuals with "large, timely, targeted" fiscal and monetary measures was next.. " , there have been massive monetary measures from the G20 and others," she said.. Ms Georgieva added that the crisis