London (CNN Business)Governments and central banks have promised to shell out $19.5 trillion since the coronavirus erupted to "put a floor under the world economy," according to the International Monetary Fund.
Some countries need even more help to recover from the crisis, but they might not get it.
Governments have announced nearly $12 trillion in stimulus measures as of September and central banks have chipped in at least $7.5 trillion to soften the impact of the pandemic on their economies, the IMF said in its annual report on Monday.
Yet despite the unprecedented scale and speed of the rescue, which cut taxes, paid wages, granted loans to small businesses and took interest rates to record lows, the global economy is suffering the worst recession since the Great Depression.
Economic activity and employment in large parts of the world, including in the United States and Europe, remain well below levels seen before the pandemic hit.
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WNU Editor: Here is an easy prediction. The pandemic shows no signs of going away. This $19.5 trillion number is only going to get bigger.
2 comments:
And zero talk about China, reparations or anything. Millions will die of this directly and starvation will kill, according to UN numbers 150mn+ .. and no talk about the Wuhan lab.
But much talk about the Great Reset. Go buy even more stuff from China. They will help us rebuild. At affordable interest rates.
Are these people nuts??
Millions dead. Trillions lost. China good. Or else.
Or else what? They were already ok to kill us, to make money off our deaths and on top insulted us as racists when we asked questions about why we can't have Christmas or why grandma had to die in an isolation ward.
Ffs stand up people
Covid 1984
COVID FOREVER!
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