IMF says COVID-19 recovery would require more coordinated response by advanced economies

After dely Coronavirus outbreak ends, in a bid to recover global ecomy, International Monetary Fund’s chief ecomist, Gita Gopinath has suggested having “bro fiscal stimulus” that is coordinated across vanced ecomies of world. world ecomy has been severely impacted by pandemic, refore,  IMF wants global powers to come toger for a joint effort to soften blow.

Last week, IMF Managing Director Kristalina Georgieva h also said that world is expected to witness worst ecomic year since Great Depression in 1930s. 

While Georgieva has said that over 170 countries would record negative per capita income growth due to COVID-19 outbreak, IMF chief ecomist urged countries to continue tre, especially of protective equipment.

IMF chief Gopinath also ded that “world cooperation is critical” because global ecomy would require a strong boost after pandemic which is impossible if world leers continue to “reverse gains from globalization”. 

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India to grow at 1.9% in 2020

IMF has also predicted that in 2020 growth of Indian ecomy would be at rate of 1.9 per cent as Coronavirus outbreak and impact of nationwide lockdown would take a toll on every sector. 

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