Business

IMF: COVID-19 might widen wealth gaps in Europe

COV ID-19 is likely to widen wealth gaps in Europe unless policymakers help end the health crisis globally, support economies until the pandemic is over and invest in making economies greener, the International Monetary Fund (IMF) has said.

 

In a speech to a European Parliament conference on Monday, IMF Managing Director, Kristalina Georgieva, praised EU governments for putting more than three trillion euros in fiscal support for firms and households, including job-retention schemes that helped more than 54 million workers.

 

“But the path to recovery is uneven because of the difference in starting positions, economic structure and capacity to respond, causing inequalities to grow both across and within countries,” she said.

 

She said in the 27-nation EU, countries that are traditional tourist destinations, such as Spain, Greece, and Italy, contracted more than 9per cent in 2020 compared to an average contraction of 6.4 per cent across the bloc.

 

According to IMF forecasts, by the end of 2022, per capita income for central and eastern Europe would be 3.8 per cent below pre-crisis projections, compared with a shortfall of just 1.3 per cent for advanced EU economies.

 

Economists have warned that such divergence would make the economic management of the EU, including the monetary policy of the European Central Bank more difficult and would increase the risk of crises down the road.

SHOCKING LIFE STORY!!!

Abuja Man reveals (FREE) secret Fruits that Increased his Manh00d size and Lasting Power in 5days…

CLICK HERE TO GET IT!!!

%d bloggers like this:
Fake Richard Mille Replica Watches, www.richardmille.to The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica