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The International Monetary Fund on Thursday asked G20 leaders to back a doubling of its emergency financing capacity to strengthen its response to thecoronavirus pandemic that is set to cause a global recession in 2020.
In a statement to leaders of the world’s 20 largest economies, the managing director, Kristalina Georgieva, said the depth of the economic contraction and the speed of the recovery depended on the containment of pandemic and “how strong and coordinated our monetary and fiscal policy actions are”.
We must act at par with the magnitude of the challenge. For this we ask your backing to:
Double our emergency financing capacity;
.@KGeorgieva to #G20 Leaders: the human and economic challenge posed by #coronavirus is enormous. Emerging market and developing economies are particularly hard hit. They are the main focus of our attention. https://t.co/K1DNnAwpxt #G20VirtualSummit pic.twitter.com/hlv8OeFrwD
The football club Real Madrid says it is working with the Spanish government to allow its famous Bernabéu stadium to store donations of medical supplies.
All of the stored supplies will be passed on to Spain’s health authorities, the club said in a statement.