WASHINGTON: Despite some signs of recovery, the global economy faces continued challenges, including the possibility of a second wave of COVID-19, and governments should keep their support programs in place, the International Monetary Fund chief Kristalina Georgieva said on Thursday .
The US$11 trillion in stimulus provided by the G20 nations helped to prevent a worse outcome, but"these safety nets must be maintained as needed and, in some cases, expanded," Georgieva urged in a blog post. While she acknowledged that the"substantial and rising debt levels are a serious concern," Georgieva said,"At this stage in the crisis, however, the costs of premature withdrawal are greater than continued support where it is needed."
Source: Financial Digest (financialdigest.net)
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