The world community met the second wave of coronavirus in greater readiness than it was at the beginning of the pandemic. Therefore, the consequences for the global economy will be less.
This was stated by the Director of the European Department of the International Monetary Fund Alfred Kammer.
As he noted, “the pandemic is intensifying”, therefore “no government in the world can afford not to provide financial support to its citizens and business.”
We “cannot afford to repeat the mistakes of the first wave,” he added.
Ultimately, as Kammer noted, everything will depend on how quickly and efficiently the local authorities act in implementing measures to combat the spread of coronavirus, on the one hand, and in providing financial and social assistance, on the other.
With an effective combination of both, the IMF “expects the global economy to recover in 2021,” he said.
Not so long ago, the IMF warned that due to the COVID-19 pandemic, the global economy could be hit by the crisis even more than previously predicted.
