The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, has announced that her organization will mobilize your emergency loan reserve, of a trillion dollars, to face the coronavirus. The world faces "a crisis never before seen in history."
"We have a trillion dollar emergency reserve and we are determined to use whatever it takes to protect from the scars that this crisis will cause, "said the Bulgarian economist at a press conference with the director general of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus.
The managing director has announced via video conference that more than 90 countries have already asked for financial aid emergency to the IMF because of the current coronavirus crisis.
For Georgieva the solution is not between choosing to save lives or save jobs. "Protecting people and protecting the economy go hand in hand"explains the Bulgarian.
Kristalina Georgieva considers that a recession worse than 2008 is being experienced, statements that contradict what he had affirmed in the past, when he assured that this year's recession was going to be "as bad or worse" than that of 2008.
"This is a crisis like no other. We have never seen the world economy approach a slowdown in the history of the IMF. We are in recession and it is much worse than the global financial crisis," he explained.