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It will take three years to recover the global economy after the COVID-19 coronavirus pandemic, said IMF Managing Director Kristalina Georgieva, Voice of America reports.

Georgieva noted that the biggest shock had already passed, and emphasized that in March 170 countries showed an economic decline.

“Without a medical solution, unfortunately, for some economies, more negative scenarios could come true. Unknown about the behavior of the virus overshadows the forecast horizon,” said Georgieva.

The fund is ramping up programs to support the economies of developing countries and is also considering writing off debts for the poorest countries.

“Spend as much as you can, and then spend a little more on doctors, nurses, vulnerable people in your country,” Georgieva said.

Earlier it was reported that the European Central Bank warns of a decline in GDP due to the coronavirus pandemic. Read more in an interview with Julia Samaeva with JP Morgan analyst David Stubbs “We never know exactly where the bottom is. “

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Qamar Munawer
Editor at The Eastern Herald. Studied Bachelor in Architect in Chandigarh, India. Collecting and writing newsworthy stories from around the world. I love to praise nature.