“Our policy engagement is very strong everywhere, but … the same way people with preconditions are more vulnerable to the virus, weakened economies are more vulnerable to the economic shock we experience today. So, they need more of our help.”
For struggling economies around the world, the IMF is a lifeline. Since 1944, it has promoted financial stability and sustainable growth to its 189 member countries with zero percent loans and reserves of more than one trillion dollars. As the Fund’s Managing Director, Kristina Georgieva’s mission is to bolster developing economies hit hard by the pandemic while seeking ways to increase equity and security for citizens of all nations.
“Every single day, 400,000 children are born on this planet; they don't choose their race, they don't choose whether they are born in a rich family or a poor family,” she tells Mike. “It's kind of a lottery at the start, but it needn't be a lottery for the future. There has to be clear thinking around equality of opportunity, access to education, to financing, to jobs, so we actually tap into the potential of all these people.”