Coronavirus
We have entered recession, IMF chief says
The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, International Monetary Fund (IMF) chief Kristalina Georgieva said Friday.
“It is clear that we have entered a recession” that will be worse than in 2009 following the global financial crisis, she said in an online press briefing.
With the worldwide economic “sudden stop,” Georgieva said the fund’s estimate “for the overall financial needs of emerging markets is $2.5 trillion.”
But she warned that “we believe this is on the lower end.”
Over 80 countries already have requested emergency aid from the International Monetary Fund.
PUNCH
-
Politics21 hours ago
Court stops arrest of APC members behind Ganduje suspension
-
News22 hours ago
Over 30 killed as hydroelectric dam collapse in Brazil
-
Entertainment15 hours ago
Nigerian-American singer Shaboozey displaces Beyoncé on Billboard chart
-
News21 hours ago
2024 WPD: Ministers, governors raise awareness on media freedom
-
News19 hours ago
OPAY bans customers from trading cryptocurrency, virtual trading
-
Entertainment18 hours ago
PHOTOS: Nigerian wedding with 10-man guests sparks reactions
-
News18 hours ago
Court orders arrest of ex-naval chief over N1.5bn laundering allegations
-
Entertainment6 hours ago
[ICYMI]: Fashola’s daughter ties knot with her partner