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The International Monetary Fund (IMF) expects the coronavirus crisis to trigger a global recession "at least as bad as that of the global financial crisis" of 2008-2009. This has been stated by the managing director of the institution, Kristalina Georgieva , in a statement issued after a teleconference of the finance ministers and central bank governors of the G-20.
In 2009, world GDP registered zero growth. Georgieva, however, has stated that "we expect a recovery in 2021" , although she has not specified whether this will be solid or weak. The 2008-2009 crisis had many side effects, including those of the Eurozone, which put Greece, Portugal, Ireland and Spain on the brink of bankruptcy and demanded bailouts for those countries.
The managing director of the Fund has indicated that the institution has a trillion dollars (930,000 million euros) available to help alleviate the economic effects of the crisis, but has emphasized that the main strategy to contain the economic impact is to fight against virus extension . "The economic impact is and will be severe, but the sooner the spread of the virus stops, the recovery will come sooner and will be stronger," says Georgieva, who also calls for more action by states, "especially on the fiscal front." .
The IMF fears especially for emerging countries, from which, according to Georgieva, investors have already withdrawn $ 83 billion, in what constitutes "the largest capital outflow ever recorded . "
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