IMF urges governments to borrow to combat impact of Covid-19 | Company

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Governments will need to redouble their efforts to tackle the pandemic and the global economic slowdown despite public debts reaching record levels, according to the International Monetary Fund.In a clear message to rich countries that they should continue to borrow at low prices to limit the damage caused by the virus, the Washington-based lender of last resort said: “More needs to be done to combat the rise of the virus. poverty, unemployment and inequality, and to promote economic recovery. ”

The IMF has said spending nearly $ 12 billion (£ 9.2 billion) by governments to save their economies since the virus outbreak is expected to push the global debt-to-GDP ratio to nearly 100%, but that reaching this milestone should not stop further support from public funds.

Its chief executive, Kristalina Georgieva, said it was essential that all countries pursue essential measures “to protect lives and livelihoods”.

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