IMF chief: 'Clear we have entered recession'

"It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis, IMF chief Kristalina Georgieva said in an online press briefing. With the worldwide economic "sudden stop," she said the estimate "for the overall financial needs of emerging markets is $2.5 trillion" and "we believe this is on the lower end."

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