Washington: The head of the International Monetary Fund, Kristalina Georgieva, says half of the world has called for a bailout due to the global economic downturn.
Speaking on the American TV channel CNBC, the IMF chief said that there had never been an emergency like the Corona epidemic.
He said that this situation was not due to bad governance or mistakes which is why they are providing funds very fast considering the situation. “For the first time in history, epidemiologists are as important to us as economists, and we hope that scientists will not disappoint us,” he said. Kristalina Georgieva, head of the International Monetary Fund, said: “Half of the world has called for a bailout due to the corona virus lockdown and economic downturn, but we are working to speed up the funding process and provide funding as soon as possible.
It should be noted that the G20 Group of Developed Countries has approved deferment of loans to 76 countries, including Pakistan. Debts due to these countries have been deferred from May 1 to December 31 this year.
According to the G20 announcement, loans under this scheme have been canceled from May 1 to December 31 this year. These payments will now have to be made between June 2022 and 2024.
The purpose of deferring the repayment of loans is to help developing countries cope with the health and economic crises arising out of coronation and net. These countries include Pakistan
