IMF warns about Ricochet Impact

International Monetary Fund’s head Kristalina Georgieva has said that nations which can be termed as emerging-market are struggling to come out of the economic crisis induced by the Covid-19 pandemic. This struggle by the emerging markets can also affect the developed countries of the world.

IMF suggestions

IMF suggests that the developed countries should do all it can so as to ensure that there is better access to vaccines and help the emerging markets for their impartial recovery. The poor nations are also facing the risk of increasing interest rates while their economies not growing and hence, can see an ever increasing debt.

Hence, the IMF is suggesting that emerging markets should be helped during this time of crises as not helping them will affect investments and global supply chains due to which the developed countries as well as global economic recovery will also suffer.

About International Monetary Fund (IMF)

IMF is an international financial institution that aims to promote monetary co-operation among the countries, facilitate international trade, and help in increasing employment and economic growth and also to reduce global poverty. The International Monetary Fund was formed in the year 1945 and it’s headquarter is located in Washington DC, USA and comprises of 190 member countries. Kristalina Georgieva is the current Managing Director of the IMF and Gita Gopinath is the Chief Economist of IMF.

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