Countries have spent $10-trillion to combat Covid-19 pandemic
New estimates suggest up to 100- million people could be pushed into extreme poverty as a result of the Covid-19 crisis, the IMF says
Washington — Governments around the world have spent $10-trillion in fiscal actions to respond to the novel coronavirus pandemic and its economic fallout, but significant further efforts are needed, the head of the International Monetary Fund (IMF) said on Thursday.
IMF MD Kristalina Georgieva said new estimates suggested that up to 100- million people could be pushed into extreme poverty as a result of the crisis, and further spending should focus on minimising job losses and preventing a rise in inequality.
To promote a more inclusive recovery, investments should focus on improving access to healthcare and education, strengthening climate protections and broadening the access of low-income households and small business to financial products and technology, she wrote in a new blog on the IMF's website.