Table of Contents
- Formed in 1944 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes.
- India joined IMF in
GREAT LOCKDOWN 2020 VS GLOBAL FINANCIAL CRISIS 2009
MORE ADVERSE SCENARIOS
- The pandemic may not recede in the second half of this year,
- Leading to longer durations of containment,
- Worsening financial conditions, and further breakdowns of global supply chains.
- In such cases, global GDP would fall even further:-
- An additional 3% in 2020 if the pandemic is more protracted this year.
- If the pandemic continues into 2021, it may fall next year by an additional 8%.
INEQUALITY CAN GO UP
- Tremendous loss of income for people at the lower end of the income scale, so poverty can go up, inequality can go up.
- The IMF said it had received “an unprecedented number of calls for emergency funding.”
- Out of its 189 members, more than 90 of them have asked for financial support.
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