Business
‘A crisis like no other’: IMF warns global economy could be permanently scarred – Sydney Morning Herald
IMF panel warns of permanent damage from the worst global downturn since the Great Depression of the 1930s unless countries are given further economic support.
The IMF’s communique said it was committed to supporting “the most vulnerable countries and people.” It endorsed a six-month extension of a suspension on debt payments that was approved Wednesday by the Group of 20 major industrial countries.
The IMF panel urged the G-20 to go further and adopt at a meeting next month a framework for managing the crushing debt burdens of many low-income countries. International aid groups say rich nations should not merely suspend debt payments but forgive larg…
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