The IMF has increased from $50 to $100 billion of reserves to assist countries in the fight against coronavirus

International monetary Fund boosts emergency Fund to fight the pandemic coronavirus from $50 to $100 billion, said during the video briefing on 3 April, the managing Director of the IMF Kristalina Georgieva. Her statement posted on the Foundation’s website.

Primarily the funds will go to developing countries, said Georgieva.

In addition, the IMF has found a way to alleviate the debt-servicing obligations for the poorest countries.

“Emerging economies are particularly vulnerable, want to emphasize this. Their health systems are fragile, and they suffered greatly. IMF gives these countries a priority. Demand for our funding skyrocketed. In fact, never in its 75 years of existence of our Institute so many countries didn’t need emergency funding to us almost simultaneously turned 85 States,” – said the managing Director.

According to her, the recipient countries must “put health care costs in the first place” – to provide resources to doctors, nurses, hospitals, purchasing medical equipment. In the second place the amount of IMF has to be supportive of overall economic priorities are reduction of unemployment, minimizing failures, and then on the recovery, said Georgieva.

On March 4, the IMF has earmarked $50 billion to counter the effects of outbreaks of coronavirus infection.

23 Mar Georgieva praised the loss of the emerging markets in connection with the pandemic of $83 billion on March 27, she said that the global economic crisis, caused by the spread of a coronavirus that has already begun.

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