Kristalina Georgieva

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IMF May Need to Step Outside its ‘Comfort Zone’ to Help Countries Amid Coronavirus, Says MD Georgieva

The International Monetary Fund may need to step outside its comfort zone and consider “exceptional measures” to help countries deal with the coronavirus pandemic and mitigate its economic impact, Managing Director Kristalina Georgieva said on Monday.

Georgieva, in a blog published on the IMF website, said the fund had already taken extraordinary steps to free up resources, especially for emerging markets and developing economies that have seen an outflow of $100 billion in recent months – the highest on record.

But more resources may be needed if market pressures continue to mount, and lending – even on easy terms – is not always the best solution, given already high debt burdens faced by many countries, she said.

Source: News18