Kristalina Georgieva, managing director of the International Monetary Fund (IMF), has warned of a recession worse than the 2008 global financial crisis.
“We are now in recession, it is worse than the global financial crisis,” news agency Xinhua quoted Georgiwa’s statement at a joint press conference with the World Health Organization (WHO) on Friday.
The Managing Director of the IMF while talking about the ‘double crisis’ like health and economic said that this is unprecedented in the history of IMF due to the increasing outbreak of covid-19.
Georgieva stressed that there is a need to work together to save lives and livelihoods in the midst of fighting the covid-19 around the world. According to data from the World Health Organization, currently more than 1 million people worldwide have been infected with covid-19 infection, of which more than 50,000 people have lost their lives.
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