Home KNN Business PANDEMIC CRIPPLING WORLD ECONOMY- IMF

PANDEMIC CRIPPLING WORLD ECONOMY- IMF

IMF

The International Monetary Fund, IMF has said the #COVID19 pandemic is crippling the economies of both the rich and poor countries.

According to the IMF, in many low-income and fragile states, the economic shock will be magnified by the loss of remittances.

In a statement on Twitter, the group said the world was unprepared for #COVID19, even though public health experts have long warned that the world was likely to face a major pandemic and called for greater preparedness.

The IMF, however, says that sustaining the fight against #corruption and preventing the misuse of emergency #COVID19 funding are essential to ensuring that needed assistance reaches the most vulnerable people.