Global economy 'not out of the woods yet', warns IMF chief Kristalina Georgieva

Despite some signs of recovery, the global economy faces continued challenges, including the possibility of a second wave of COVID-19, and governments should keep their support programs in place, IMF chief Kristalina Georgieva said on Thursday.

Activity "has started to gradually strengthen... But we are not out of the woods yet," Georgieva said in a message to G20 finance ministers ahead of their weekend meeting in Saudi Arabia.

"A second major global wave of the disease could lead to further disruptions," she warned, stressing to policymakers that the unprecedented "economic lifelines to individuals and workers... must be maintained."