IMF to provide $50 billlion to counter Coronavirus outbreak
March 5, 2020 | Investopaper
International Monetary Fund (IMF) has proposed a $50 billion package for the fight against the impact of the coronavirus. Kristalina Georgieva, Managing director of IMF made the announcement about the aid package on Wednesday.
The aid will be for the underdeveloped and developing countries with poor health facilities to respond to the virus outbreak. Most of the money will be interest-free and will be used to strengthen the health care system of the poor nations.
Corona Virus has already spread to more than 70 countries outside China with 90,000 plus reported cases.
Earlier on Monday, World Bank had announced a $12 billion program for the poor countries in order to deal with the virus impact.
