‘Clear that we have entered recession’: IMF chief amid global downturn

IMF chief Kristalina Georgieva said the world has entered recession. “It is clear that we have entered a recession” that will be worse than in 2009 following the global financial crisis, she said in an online press briefing. With the worldwide economic “sudden stop,” Georgieva said the fund's estimate “for the overall financial needs of emerging markets is $2.5 trillion.”