The International Monetary Fund (IMF) warned on Monday that the coronavirus crisis is not over yet, urging economies to continue offering fiscal support to allow for a healthy recovery, according to Reuters.
Featured statements:
“The support must be maintained throughout the crisis. A premature withdrawal of aid would further damage livelihoods and increase the likelihood of widespread bankruptcies, which, in turn, could hamper recovery. ”
“In such a scenario, the scars of the crisis would likely grow much deeper.”
“In economies with restricted spending capacity, greater spending prioritization may be necessary to protect the most vulnerable.”
Market implications
The previous report had little to no impact on market sentiment, which remains elevated amid expectations of a blue sweep in the US election.
The US Dollar Index falls 0.42% to new three-day lows at 93.72 on Election Day.
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Credits: Forex Street
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