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3/27, 4:00 PM (Source: TeleTrader)
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IMF's Georgieva: Current recession worse than 2009

The world has entered an recession and it is "as bad or worse" than the 2009 recession, Interenational Monetary Fund (IMF) Managing Director Kristalina Gergieva warned on Friday.

She noted a "sizeable rebound" is still possible in 2021 if the virus is contained everywhere in the world. Georgieva added liquidity problems will need to be prevented so they do not become a solvency issue.

The managing called on governments to implement fiscal policies in order to diminish the risk of a wave of bankrupcies. Georgieva commented that countries already adopted measures in the sum of $5 trillion or 6% of the global gross domestic product.

Breaking the News / VP