IMF announces $50 billion aid package to fight coronavirus
International Monetary Fund (IMF) has announced a $50 billion aid package to fight coronavirus. IMF Director Kristalina Georgieva, while announcing the package, said that the money is available 'immediately'.
Earlier, at an event in Washington, Georgieva had said, "We are faced with a generalized weakening in demand, and that goes through spillover channels, including trade and tourism, commodity prices and tightened financial conditions."
"“They call for an additional policy response to support demand and ensure an adequate supply of credit,” she added.
Covid-19, a disease caused by the mysterious new strain of coronavirus has resulted in over 3,000 lives globally. While most of the concentration of infected people and those who have died is in China, other countries like South Korea, Italy, Iran have also have significantly high infection rate.
In India, 28 people have been tested positive of coronavirus including 16 Italian nationals. All the people who are infected are being treated in government-designated quarantine facilities.
Also Read | Paytm employee tests positive for Coronavirus: Yet another Italy connection emerges
