Need exceptional measures to help countries deal with Covid-19: IMF MD

The IMF last forecast the global economy would contract by 3% in 2020 due to the pandemic, marking the steepest downturn since the Great Depression of the 1930s

Managing Director Kristalina Georgieva on Monday said the International Monetary Fund (IMF) may need to step outside its comfort zone and consider "exceptional measures" to help countries deal with economic slowdown due to coronavirus pandemic.

IMF had already taken extraordinary steps, especially for emerging markets and developing countries, but more resources may be needed if market pressures continue to mount, said Georgieva, in a blog published on the IMF website.
 

"The IMF, like our member countries, may need to venture even further outside our comfort zone to consider whether exceptional measures might be needed in this exceptional crisis," she said,