IMF: The crisis is not over, keep spending (wisely) – Reuters

The International Monetary Fund (IMF) warned Monday, the coronavirus crisis is not yet over, urging economies to keep offering fiscal support to enabling a healthy recovery, per Reuters.

Key quotes

“Support must be maintained throughout the crisis. A premature withdrawal of support would represent further damage to livelihoods and increase the likelihood of widespread bankruptcies, which, in turn, could hamper recovery.”

“In such a scenario, the scars of the crisis would probably become much deeper.”

"In economies with restricted spending capacity, further prioritization of spending may be necessary to protect the most vulnerable."

Market implications

The above report had little to no impact on the market sentiment, which remains lifted amid expectations of a Blue sweep at the US election.

The US dollar index drops 0.42% to fresh three-day lows of 93.72 on the election day.