That's a lot of money
That money is hopefully going to be directed towards emerging markets that are going to be unable to tap the debt market, especially for countries that need to borrow in foreign currencies.
As large as that number is, I don't know if it's enough.
Comments from IMF leader Georgieva:
- The case for coordinated and sychronized global fiscal stimulus is becoming stronger by the hour.
- Additional stimulus will be necessary to prevent long-lasting economic damage
- Has received interest from about 20 more countries for ongoing loan programs, in addition to 40 existing programs
- Central bank swap lines to emerging markets may be needed
- FX interventions and capital flow management measures can usefully complement other monetary policy actions
- Banks should use capital and liquidity buffers
