The IMF expects a "partial recovery" of the world economy in 2021



The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, assured this Thursday that the "partial recovery" of the global economy will not take place until 2021 given the magnitude of the coronavirus pandemic, while reporting that more than 90 Countries have already requested financial assistance from the agency.

"If the pandemic begins to go away in the second half of the year - and thus allows us a gradual lifting of containment measures and the gradual reopening of the economy - our grassroots assumption is a partial recovery in 2021," said Georgieva. in a speech a week before the organism's spring assembly, which will be held virtually due to the coronavirus.

The director of the Fund considered the current economic crisis as the deepest since the Great Depression of 1930.

He also warned that although the pandemic is affecting both advanced and developing countries, regions such as Latin America, Africa or Asia are at greater risk due to their fragile economies and health systems.

Georgieva stressed that "in the last two months, capital flows from emerging markets amounted to $ 100 billion, a volume more than three times greater than in the same period of the global financial crisis."

As a consequence, the Fund is receiving "an unprecedented number" of requests for assistance, from more than 90 countries, including Ecuador, Honduras, Madagascar, Rwanda and Togo.

For this, he explained, the institution has doubled the emergency response funds to 100,000 million dollars.

The Fund will present next Tuesday its "Global Economic Outlook" header report, with global projections in the context of the coronavirus pandemic.

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