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The ongoing COVID-19 outbreak has created an economic crisis “like no other” – one that is “way worse” than the 2008 global financial crisis, the International Monetary Fund’s head, Kristalina Georgieva, warned of April 3.
“Never in the history of the IMF have we witnessed the world economy come to a standstill,” Kristalina Georgieva, managing director of the IMF, said speaking at the World Health Organization’s headquarters in Geneva.
“This is a crisis like no other,” she said. “We have witnessed the world economy coming to a standstill. We are now in recession. It is way worse than the global financial crisis” of 2008-2009.
She emphasized that the current situation is “humanity’s darkest hour, a big threat to the whole world and it requires from us to stand tall, be united and protect the most vulnerable of our citizens.”
According to Georgieva, the IMF is working with the World Bank and other international financial institutions to alleviate the economic fallout from the outbreak. The IMF has a $1 trillion war chest, she said, adding “we are determined to use as much of it as necessary.”
“In fact, never in the 75 years history of our institution have so many countries found themselves in need of emergency financing – 85 countries have approached us so far, all at one time.”
The IMF’s Kristalina Georgieva says the downturn is far worse than the global financial crisis
The emerging markes and developing countries are especially affected. Ninety billion dollars left the emerging markets and developing economies, according to the IMF.
As the COVID-19 outbreak is killing vulnerable people (mostly elderly and people with severe underlying diseases), the economic crisis caused by anti-COVID-19 measures are destroying the states’ economies.
It becomes more and more evident that the threat from the COVID-19 outbreak is less than it’s presented by media outlets and the World Health Organization presents. Specialists and research centers even question the rationality of the WHO decision to declare it ‘pandemic’. However, the economic consequences of the current crisis could be, and the IMF says that they will be, devastating.
Since its very creation, the IMF has been the international institution providing interests of the global elites and international financial capital. Nonetheless, in the current conditions, even this institution is ringing an alarm bell and warning about the apparent negative effect of the COVID-19 pandemic hype.
What happened to christine lagarde lol
She got her nose stuck in a crack.
Hahahaha
More than 6.65 million people filed for unemployment benefits in the US last week, the latest official figures to highlight the devastating economic impact of the Covid-19 pandemic on the American economy.
The federal labor department announced that a new record number of people sought benefits after losing their jobs in the week ending 27 March as long lines formed at unemployment offices, phone lines jammed and websites collapsed under the weight of claims across the US.
Some 3.3 million had filed for unemployment the previous week, bringing total claims to 9.95 million for the two weeks
OFCOURSE…THAT WAS EXACTLY WHAT WE WERE WAITIN’ FOR….
It’s not about banks, at my point. It’s about USA govt spendings and endless debt grow because of it. As for bankers they won’t starve because of crisis but ordinary people would. Don’t know why SF blocked me but let’s try once again the picture of disaster: https://www.vox.com/2020/4/2/21203850/unemployment-initial-claims-march-28
Thirteen Bloodline Families, MIC, Elites, Banksters, the Vatican, Kings & Queens, ZioNazis, Freemasons, Deep State, Multinationals…All are Guilty of Warcrimes & Crimes against Humanity…Seize their Assets…Drag’m to an independent International Tribunal & if found guilty: Hang em High…I’m with’m 99 Percenters…
And it is each and every government who shut down their economy who is responsible for this crisis and they and they alone should be held accountable.
https://youtu.be/ngrEePSfc_4
“The IMF stands ready to support vulnerable countries with different lending facilities, including through rapid-disbursing emergency financing, which could amount up to $50 billion for low-income and emerging market countries.”
No job? Rent due? World Bank bill collectors and creditors hounding you?
NO PROBLEM! IMF EZ-Payday Loans (Rapid Disbursing Emergency Financing) are like FREE MONEY!
Kristalina at IMF is waiting to take your call with all the information you need for up to $50 billion in FAST CASH. Note: Calls may be monitored for quality assurance and training purposes.
Georgieva [speaking into phone]: “Eritrea? Eritrea? Eritrea my ass. This is Sudan, isn’t it, general? Nice try, but I recognize your voice, deadbeat. You’re not getting another penny in loans from anybody. Now where’s IMF’s f’king $60 billion? What? Coronavirus? Next WEEK? Yeah, it’s always ‘next week’ with you bastards. Do you understand that I could put you on hold and have your ass regime-changed before the end of this call? Do you think YOU had anything to do with al-Bashir stepping down? Now you better cough up a payment by this weekend before I get really pissed off. We’ll be holding your daughter until then. Nothing to worry about if we see some cash. If not, we’ll return her.. in several different shipments!” [click]
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Those howling the loudest are behind the insanity.