WASHINGTON, D.C.: The economic stresses caused by the coronavirus disease 2019 (Covid-19) pandemic could spark an outbreak of protests, the International Monetary Fund (IMF) warned Wednesday (Thursday in Manila), urging governments to take steps to prevent unrest. In Ecuador, Haiti and Iran, the protests were over hikes in fuel prices; in France, pension reforms and planned fuel tax increases. “New rounds of protests could exhaust reform momentum (for example, regarding pension or energy subsidies) and put public finances at risk,” the IMF said. The Group of 20 advanced and emerging economies are at the forefront with actions totaling $7 trillion. IMF officials have stressed the need for a massive response to deal with the health crisis, as well as its economic impact.

Source: Manila Times April 16, 2020 16:30 UTC