IMF’s Georgieva: Recovery in 2021 will be partial in best-case scenario

Even in the best-case scenario, the global economic recovery in 2021 will be partial, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Friday.

Additional takeaways

“Chances for recovery increase if companies can be kept afloat, and workers affiliated with the firm.”

“IMF message to governments is to spend now, focus on doctors, nurses, vulnerable in society.”

“Important to address risks that pandemic will worsen inequality.”

“Big winner of crisis will be the digital economy, e-commerce, e-government, e-learning.”

“We hope that big tech companies see the crisis as a chance to engage in responsible capitalism.”

“Will be important to ensure access to the digital economy for all, take opportunities to invest in green growth.”

“Low oil prices provide a chance to phase out harmful subsidies.”

“Pandemic crisis has thrown cold water on some positive trends toward more equality.”

“56 countries have received emergency financing.”

“IMF looking at the country-by-country level of debt; wants to react early if debt levels are unsustainable.”

“US actions to boost the domestic economy helps a lot.”

Market reaction

These comments were largely ignored by the market participants. As of writing, Wall Street’s main indexes were losing between 0.13% and 0.21%.