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“The considerable global fiscal support of close to $12 trillion and the extensive rate cuts, liquidity injections and asset purchases by central banks helped save lives and livelihoods and prevented a financial catastrophe,” Gopinath said. She advised that “to the extent possible, policies must aggressively focus on limiting persistent economic damage from this crisis.”
According to the IMF, “most economies will experience lasting damage to supply potential, reflecting scars from the deep recession this year.”
The World Bank has warned that up to 150 million more people may be pushed into extreme poverty by 2021.
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