• About us
  • Contact us
  • Our team
  • Terms of Service
Friday, August 8, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

World needs coordinated fiscal response to pandemic: IMF chief

AFP/ PTI by AFP/ PTI
March 17, 2020
in BUSINESS
A A
0
World needs coordinated fiscal response to pandemic: IMF chief
FacebookTwitterWhatsapp

Washington, Mar 16 :  Global governments must work together to provide massive spending as in the 2008 financial crisis to help the economy withstand the damage from the coronavirus pandemic, IMF chief Kristalina Georgieva said on Monday.

Emerging markets are facing a massive outflow of cash and will need support as well, she said in a blog post.

Related posts

PM Modi, senior ministers take oath as members of 18th Lok Sabha

India will never compromise on farmers’ interest, ready to pay heavy price: PM

August 8, 2025

No logic behind Trump’s 50 pc tariff; talks continue with US: MEA official

August 8, 2025

She again pledged that the IMF “stands ready to mobilize its USD 1 trillion lending capacity to help our membership,” including USD 50 billion in rapidly deployed funds for emerging and developing economies.

Governments have taken some steps, especially to address health efforts to contain the spread of COVID-19, but they “should continue and expand these efforts to reach the most affected people and businesses — with policies including increased paid sick leave and targeted tax relief,” Georgieva said.

But more is required beyond individual country actions, and “as the virus spreads, the case for a coordinated and synchronized global fiscal stimulus is becoming stronger by the hour.”

In 2009 alone, countries in the Group of 20 committed two per cent of GDP, or over USD 900 billion, “So, there is a lot more work to do,” she said.

Meanwhile, the US Federal Reserve joined forces on Sunday with the European Central Bank and others to provide dollar swap lines to ensure global financial markets have guaranteed access to sufficient cash to continue to operate, “steps we know have worked before,” Georgieva said, adding that emerging markets likely will need support as well.

She cited data from global banking group the Institute of International Finance showing that investors have pulled nearly USD 42 billion from emerging markets since the beginning of the crisis.

“This is the largest outflow they have ever recorded,” she said. “Going forward, there may be a need for swap lines to emerging market economies.”

Central banks in those countries facing financial market stress can use currency market interventions as well as “capital flow management” — a term that can refer to limits on how much cash can be removed from the country — as a useful tool to complement other actions, she said.

Previous Post

Coronavirus: SC takes suo motu note of overcrowding in prisons, seeks info from all states and UTs

Next Post

Advisor Bhatnagar reviews CAPEX budget

AFP/ PTI

AFP/ PTI

Next Post
Advisor Bhatnagar reviews CAPEX budget

Advisor Bhatnagar reviews CAPEX budget

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: kashmirimages123@gmail.com

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.