Coronavirus ‘way worse than the global financial crisis,’ IMF says

Global Monetary Fund Managing Director Kristalina Georgieva speaks at a press conference in Washington D.C., on March 4, 2020.

Liu Jie | Xinhua | Getty Photos

The coronavirus pandemic has produced a financial crisis “like no other,”  the top rated International Monetary Fund formal claimed Friday.

“Never in the heritage of the IMF have we witnessed the entire world overall economy come to a standstill,” said  Kristalina Georgieva, managing director of the IMF.

“This is in my life span humanity’s darkest hour, a large risk to the whole world and it involves for us to stand us, be united,”  Georgieva claimed for the duration of a Globe Wellness Corporation push meeting.

“It is way even worse than the worldwide economic crisis” of 2008-09, she reported. “This is a crisis like no other.”

Georgieva claimed that the IMF is operating with the World Lender and other intercontinental financial institutions to alleviated economic damage from the virus outbreak, which has infected a lot more than 1 million persons.

“We have a $1 trillion war chest,” she reported. “We are determined to use as a great deal of it as needed.”

 More than 90 countries so far have applied for support from individuals money, she mentioned.

This is breaking information. Verify again for updates.

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