Companies around the world will take on as much as $1 trillion of new debt in 2020, as they try to shore up their finances against the coronavirus, a new study of 900 top firms has estimated.
As governments rushed out funding to prevent an economic collapse amid the coronavirus pandemic, global public debt swelled to the highest in history, but the IMF warned on Friday that cutting back too soon could undermine the recovery.
Despite some signs of recovery, the global economy faces continued challenges, including the possibility of a second wave of COVID-19, and governments should keep their support programs in place, IMF chief Kristalina Georgieva said on Thursday.
The dominant risk to the US economic recovery is a resurgence of COVID-19 cases that would force renewed business shutdowns, the International Monetary Fund warned on Friday.
The World Bank and the International Monetary Fund on Wednesday urged official bilateral creditors to provide immediate debt relief to the world’s poorest countries as they grapple with severe consequences of the rapidly spreading coronavirus.
The coronavirus pandemic will cause a global recession in 2020 that could be worse than the one triggered by the global financial crisis of 2008-2009, but world economic output should recover in 2021, the International Monetary Fund said on Monday.
G20 finance ministers and central bankers agreed during a separate video conference on Monday to develop an "action plan" to respond to the outbreak, which the International Monetary Fund expects will trigger a global recession.
The new coronavirus epidemic poses a “serious threat” and will slow growth in the world economy to below the 2.9 per cent posted last year, IMF chief Kristalina Georgieva said on Wednesday.
China’s economy is beginning to show some signs of normalisation after the full-blown shock caused by coronavirus but stark risks remain, International Monetary Fund officials said in a blog on the economic impact of the pandemic.