- IMF Managing Director Georgieva: Global economy is coming back from the depths of this crisis, but this calamity is far from over - Reuters
Market news
6 October 2020
IMF Managing Director Georgieva: Global economy is coming back from the depths of this crisis, but this calamity is far from over - Reuters
- Says global economy is looking “less dire” than it did in June
- All countries are now facing "the long ascent" - a difficult climb that will be long, uneven, and uncertain - and prone to setbacks
- IMF is continuing to project a “partial and uneven” recovery in 2021 [in June, IMF forecast 2021 global growth at 5.4%]
- IMF will make “small” upward revision to its 2020 global output forecast of -4.9%, published in June
- $12 trillion in fiscal support, coupled with unprecedented monetary easing has allowed many advanced economies to escape the worst damage and start to recover
- China also has recovered faster than expected
- Emerging markets and low-income countries face precarious situation
- In low-income countries, the shocks are so profound that we face the risk of "lost generation"
- Calls for more debt help quickly for low-income countries;
- Says development gains could be reversed without access to more grants, concessional credit and debt relief
- In some cases, global coordination to restructure sovereign debt will be necessary, with full participation of public and private creditors
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page