DW — Coronavirus latest: World has 'clearly' entered recession — IMF head

15:51 "It is clear that we have entered recession," said IMF head Kristalina Georgieva. Due to the pandemic, the global economy experienced a "sudden stop" and the fund is now looking for a practical approach to prevent indebted countries from "falling off the cliff."

15:23 The ongoing pandemic will have a deep economic impact and recovery could be only expected in 2021, said IMF chief Georgieva. This target can only be reached if the virus is contained and liquidity problems are not allowed to turn into issues with solvency, which is the ability to pay debts.

15:17 The world has entered a recession which is as bad or worse than the global financial crisis of 2008, the head of the International Monetary Fund (IMF) Kristalina Georgieva has said. 

The next leg down in the failure of neolibetralism.

Deutsche Welle
Coronavirus latest: World has 'clearly' entered recession — IMF head

IMF boss says raise taxes on the rich to tackle inequality— Larry Elliott

Kristalina Georgieva, the IMF’s managing director, said higher marginal tax rates for the better off were needed as part of a policy rethink to tackle inequality.

In a sign of how the IMF has moved away from the tax-cutting approach that once formed a central part of its policy advice, Georgieva said there needed to be a different approach to tackling what had become “one of the most complex and vexing challenges in the global economy”.

The IMF chief, writing in a blog, said: “Inequality of opportunity. Inequality across generations. Inequality between women and men. And, of course, inequality of income and wealth. They are all present in our societies and – unfortunately – in many countries they are growing.”

The Guardian (UK)
IMF boss says raise taxes on the rich to tackle inequality

Larry Elliott, economics editor

Kristalina Ivanova Georgieva-Kinova is a Bulgarian economist, who is the managing director of the International Monetary Fund. She worked as chief executive of the World Bank from January 2017 to 1 October 2019. She served as Acting President of the World Bank Group from 1 February 2019 to 8 April 2019. Wikipedia