IMF’s Georgieva: Second major coronavirus wave could cause further disruptions

In a blog posting ahead of Saturday's virtual meeting of finance ministers and central bank governors from the Group of 20 major economies, the International Monetary Fund’s (IMF) Managing Director (MD) Kristalina Georgieva said that the global economy is not out the woods yet, warning that the second major coronavirus wave could cause further disruptions.

Additional comments

“Job losses, bankruptcies, industry restructuring could pose significant challenges to the financial sector.”

“Rising global debt levels are a serious concern, but warns against premature withdrawal of fiscal support.”

“Monetary policy should remain accommodative where output gaps are significant and inflation is below target.”

“Continued coordination across central banks essential to ensure effective functioning of money, forex and securities markets.”

“Rising protectionism, retreat from multilateralism endanger the global recovery.”