IMF doubles aid as capital flees emerging markets

Kristalina Georgieva_PA_575x375
By Phil Thornton
09 Apr 2020

The International Monetary Fund has doubled its emergency financial package for emerging and developing countries hit by the Covid-19 pandemic, its managing director said on Thursday, as she warned that the global economy would suffer its worst slump since the Great Depression.

Kristalina Georgieva used a curtain-raising speech ahead of the Fund’s spring meeting next week to announce that the executive board had agreed to double access to the emergency facilities it rolled out last month. She said this would enable the Fund to meet expected demand of about $100bn ...

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