The world entered the COVID-19 pandemic with persistent, pre-existing external imbalances. The crisis has caused a sharp reduction in trade and significant movements in exchange rates but limited reduction in global current account deficits and surpluses. […]
This blog is part of a special series on the response to the coronavirus.
A key role of government is to protect the well-being of its people—most crucially and visibly during emergencies such as the recent outbreak of the coronavirus. The IMF has $50 billion available in rapid-disbursing emergency financing to help countries suffering from the virus. As Managing Director Kristalina Georgieva said, what we want is to guarantee that people are not going to die because of a lack of money. […]