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The IMF Has Received Requests For Emergency Funding From 103 Countries

The IMF Has Received Requests For Emergency Funding From 103 Countries

The International Monetary Fund (IMF) has received requests for emergency financial assistance from 103 countries, and the Fund's Executive Board will consider about half of these requests by the end of this month, IMF Managing Director Kristalina Georgieva said.

This year, 170 countries will face a decline in per capita income, Georgieva notes in a blog on the IMF website. At the same time, a few months ago, the Fund predicted that 160 economies of the world will record an increase in this indicator.

The IMF said earlier this month that the coronavirus pandemic, the extent of its effects is not yet fully clear, has already brought the world economy to the brink of the largest crisis in almost a century.

Last week, the Fund published an overview of the world economy (World Economic Outlook: The Great Lockdown), according to which the world economy will fall by 3% in 2020. The decline in the economy as a result of the situation with coronavirus and the measures taken by countries to contain its spread is expected this year by many States, the review noted.

According to Georgieva, governments around the world have taken unprecedented measures to combat the coronavirus pandemic. Budget measures currently total about $8 trillion, while Central banks have made large - scale, and in some cases unlimited, liquidity injections.

In March, Georgieva said that the IMF is ready to mobilize $1 trillion in loans to help countries fight coronavirus.

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