IMF, World Bank pledge help amid calls for more debt relief

The 189-nation International Monetary Fund and its sister lending agency, the World Bank, on Friday pledged to step up their efforts to cushion the blow to the global economy from the coronavirus pandemic. The two agencies' assurance came at the end of their spring meeting where they heard calls for them to provide more debt relief to poorer nations being battered by the health crisis. IMF Managing Director Kristalina Georgieva and World Bank President David Malpass both stressed that their agencies are well aware of the rising threat from a health crisis that is expected to plunge the global economy into the deepest recession since the Great Depression of the 1930s.

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