International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Sunday that Pakistan and Egypt were still facing economic hardships.
Expressing her thoughts during the World Economic Forum (WEF) session, Georgieva said: “The global economy had suffered $3 trillion in losses due to the coronavirus pandemic. The less developed countries had to face more losses due to the coronavirus pandemic.”
Some countries, like China and Indonesia, had steered out of the coronavirus crisis.
Speaking about the economic situation of the United States, Georgieva said: “The economy of the United States is better, but the situation in the Eurozone is not good.”
“The IMF has three basic priorities. The first priority is to bring inflation down to the target. It is also the IMF’s target to create a balance between income and expenditures,” said Georgieva.
She said: “The pandemic and wars had depleted the reserves of many countries. There will be more hardships in the coming days.”.
