IMF Asks Govts To Keep Their Support Programs in Place For COVID-19 Second Wave

International Monetary Fund (IMF) announces the possibility of the second wave of Covid-19 and advises governments to keep their support programs in place.

Kristalina Georgieva International Monetary Fund (IMF) chief has made the announcement in a G20 finance ministers ahead of their weekend meeting in Saudi Arabia.

According to Georgiev, though there are signs of recovery, things are not normal. She said that activity “has started to gradually strengthen… But we are not out of the woods yet.”

The G20 nations have already provided $11 trillion in different support programs which have resulted in preventing the worst outcomes. However, she is of the view that “these safety nets must be maintained as needed and, in some cases, expanded.”

There should be healthcare facilities and unemployment insurance available for low-income families. Georgieva said, “at this stage in the crisis, however, the costs of premature withdrawal are greater than continued support where it is needed.”

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