The International Monetary Fund Chief Kristalina Georgieva has warned and said that the current crisis posed daunting challenges for policymakers in many emerging markets and developing economies.

Addressing the Development Committee Meeting during the annual Spring Meeting of the International Monetary Fund and the World Bank, the IMF Managing Director said, a large global contraction in the first half of this year was inevitable.

She said, the Coronavirus pandemic hit the world economy when it was already in a fragile state as it was weighed down by trade disputes, policy uncertainty and geopolitical tensions.

