The road to economic recovery remains difficult, warns IMF

Business

By CAPosts 22 November, 2020 - 08:00am 34 views

WASHINGTON.- The global economy faces a difficult recovery path in the face of the COVID-19 emergency, which is why the International Monetary Fund (IMF) said that all countries should remove trade barriers and boost the economy.

© moneyenimagen.com The International Monetary Fund (IMF) analyzes the strategy to boost the economy. Photo: iStock

At the G20 virtual meeting, IMF Managing Director Kristalina Georgieva noted that this will help boost medical technology.

Although a medical solution to the crisis is in sight, the road to economic recovery remains difficult and prone to setbacks, "projected Georgieva.

For the IMF director, the road to a recovery will be arduous and countries should eliminate tariff barriers to medical technology to advance towards recovery

Several pharmaceutical companies have reported encouraging progress to manufacture an effective vaccine against the coronavirus while cases continue to rise, forcing some countries to reimpose restrictions to curb infections.

The spike in infections is a powerful reminder that a sustainable recovery cannot be achieved unless we defeat the pandemic everywhere, "Georgieva said, calling on countries to cooperate to ensure that the supply of vaccines, tests and medicines is appropriate

The head of the IMF also urged that there be multilateral efforts for the manufacture, purchase and distribution of medical resources, especially for poor countries.

This also means removing recent trade restrictions for medical equipment, including those related to vaccines, "Georgieva said.

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