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G20: the coronavirus jeopardizes the recovery of the world economy (head of the IMF) - France 24

2020-02-23T19:31:50.162Z

G20: the coronavirus jeopardizes the recovery of the world economy (head of the IMF)



Ryad (AFP)

The head of the International Monetary Fund (IMF) said on Sunday that the coronavirus was "jeopardizing" the recovery of the world economy at a G20 meeting in Riyadh, which said it was ready to act to limit "risks "on growth.

"The Covid-19 virus, a global health emergency, has disrupted economic activity in China and could jeopardize the recovery," said Kristalina Georgieva to finance ministers and central bank governors of the capital's top twenty economies. Saudi.

In January the IMF predicted overall growth of 3.3% for 2020, against 2.9% in 2019. At the summit in Riyadh, Georgieva said that the impact of the new coronavirus on growth would be around 0 , 1 point.

"The expected economic recovery (...) is fragile," added the head of the IMF, quoted in a press release.

Chinese growth should stand at 5.6%, down 0.4 points compared to January estimates.

The virus claimed 2,345 lives in China, cutting off transport, disrupting trade and fueling investor concern, as companies are forced to close down.

"I have informed the G20 that even if the virus is contained quickly, growth in China and the rest of the world will be affected," said Georgieva.

"The G20 is an important forum to help put the world economy on a stronger footing," said the head of the IMF, urging member countries to cooperate to contain the spread of the virus.

© 2020 AFP

Source: france24

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