IMF ready to lend $1 trillion as a response to the coronavirus crisis

The International Monetary Fund is prepared to lend $1 trillion to governments as the effects of the coronavirus ravage economies across the globe, managing director Kristalina Georgieva wrote on LinkedIn. The IMF also laid out three recommended actions for governments: continue and expand fiscal stimulus; ease monetary policy, for example by lowering interest rates; and be flexible in applying financial regulation. Georgieva encouraged governments to remain in close contact and consider coordinated actions — “the best medicine to ensure that the economic pain inflicted by the virus is relatively short-lived.”