Pandemic recovery will require more, coordinated stimulus: IMF

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(FILES) In this file photo the World Bank Group building is viewed on an empty street in Washington, DC on April 13, 2020. – The coronavirus pandemic is pushing the global economy into its deepest recession in a century, cutting world output by three percent this year, the International Monetary Fund said April 14, 2020. If the virus is contained and economies can begin operating again, 2021 should see a rebound of 5.8 percent, according to the IMF’s latest World Economic Outlook. (Photo by Daniel SLIM / AFP)

WASHINGTON, United States (AFP) — After the pandemic ends, governments will have to provide even more cash infusions to help the global economy rebound from the coronavirus’s deep recession, the IMF’s chief economist said Tuesday.

“Once the recovery happens, and we are past the pandemic phase for advanced economies, it would be essential to undertake a broad-based fiscal stimulus,” International Monetary Fund research chief Gita Gopinath told reporters.

The spending “would be even more effective if it were coordinated across all the advanced economies of the world,” she said.

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