International

IMF chief urges G20 action to reverse global economy’s dangerous divergence

IMF chief urges G20 action to reverse global economy's dangerous divergence
Posted by Administrator_India

By Administrator_India

Capital Sands

Group of 20 countries should take strong policy actions to reverse a “dangerous divergence” that threatens to leave most developing economies languishing for years, the head of the International Monetary Fund said.

IMF Managing Director Kristalina Georgieva said “much stronger international collaboration” was needed to accelerate the rollout of Covid-19 vaccines in poorer countries, including additional funding to help them buy doses and reallocation excess vaccines from surplus to deficit countries.

She called for continued, targeted fiscal support to support economies, and said central banks should maintain accommodative monetary and financial policies to support the flow of credit to households, and firms.

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