COVID-19: IMF warns of bankruptcies, firms closures
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By Emma Ujah
The International Monetary Fund, IMF, has warned of bankruptcies and closures of firms, unless policy makers adopt measures to keep businesses afloat, across the globe, in the face of the COVID-19 pandemic.
Mr. Malhar Nabar, who heads the team that produces the World Economic Outlook in the Research Department of the IMF said, in a podcast, that risks of failed businesses would persist ,as long as, the pandemic remained unabated, unless governments in various countries, and global bodies worked together to make firms liquid and keep workers on their jobs. “There is a risk that we might see firms that are in illiquid situations, forced into closures, and we see a spike in the exit of firms,” he said, in the podcast moderated by Bruce Edwards.