Well-known Chinese news Tencent News recently reported based on information provided by Reuters that Kristalina Ivanova Georgieva-Kinova, Managing Director of the International Monetary Fund (IMF) just revealed that an additional 20 countries have ask for help. She said the IMF is prepared to utilize its full lending power (around US$1 trillion) to support its member countries to combat the coronavirus crisis. She did not list the names of the countries seeking support. However, Iran indicated last week that it did ask the IMF for an emergency loan. Georgieva-Kinova also made it clear that a globally coordinated financial stimulus action is becoming more and more reasonable. She made the comments before attending the G7 teleconference and pointed out that the global action should be on a scale similar to the 2008 global financial crisis. She praised the easing policies that the U.S. Federal Reserve has led.
Source: Tencent News, March 18, 2020