The world economy will perform better than feared at the height of the coronavirus pandemic, but the “calamity is far from over”, according to Kristalina Georgieva, head of the IMF.
The fund’s managing director, ahead of next week’s virtual IMF and World Bank annual meetings, called on advanced economies to do “whatever it takes” and poorer nations to do “whatever is possible” to foster the best possible recovery from the pandemic.
She urged nations not to withdraw economic support early and to begin to plan for a protracted recovery period because “there is the risk of severe economic scarring from job losses, bankruptcies, and the disruption of education”.
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