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“We have witnessed the world economy coming to a standstill, way worse than the global financial crisis,” International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva said on Friday. “The IMF imf focused on making sure there is a strong response to the health crisis, as well as strengthening the economy.”

Additional takeaways

“Nearly $90 billion in investments have flowed out of emerging markets.”

“Determined to use as much of $1 trillion war chest as needed to respond to the pandemic.”

“Highest risk we see is a wave of bankruptcies and layoffs that would make economic recovery harder.”