IMF Approves $650 Billion in Corona Aid

The International Monetary Fund (IMF) approved an amount of $650 billion on Monday to help countries get through the corona crisis. This is the most significant amount of aid since the IMF was founded.

 

The money aims to help countries with mounting debt and the financial consequences of the corona pandemic.

It is the first time since the global economic crisis in 2009 that the United Nations has released a large amount of aid for this purpose. At the time, it was about 250 billion dollars (more than 210 billion euros).

IMF chief Kristalina Georgieva describes the emergency amount as “a jab in the arm for the world” that will help promote global economic stability.

“It will especially help the most vulnerable countries struggling with the impact of the corona crisis,” Georgieva said in a statement on Monday.