Coronavirus outbreak: Global growth to ‘dip below’ last year’s rate, says IMF chief Kristalina Georgieva

By: |
March 4, 2020 8:18 PM

The COVID-19 outbreak "is no longer regional issue, it is a global problem (that) calls for global response," Georgieva said.

The IMF in January forecast growth this year of 3.3 per cent, which means at least a half point will be lost to the virus. (Reuters file image)The IMF in January forecast growth this year of 3.3 per cent, which means at least a half point will be lost to the virus. (Reuters file image)

The new coronavirus epidemic poses a “serious threat” to people and the world economy, and will slow growth below the 2.9 per cent posted last year, IMF chief Kristalina Georgieva said on Wednesday.

The COVID-19 outbreak “is no longer regional issue, it is a global problem (that) calls for global response,” Georgieva said.

The epidemic’s impact on confidence and steps to contain it are impacting economic activity, with the result that “global growth in 2020 will dip below last year’s levels,” she said.

The IMF in January forecast growth this year of 3.3 per cent, which means at least a half point will be lost to the virus.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1FY21 GDP: Q2 data signal ‘upside potential’ to forecasts, says CEA KV Subramanian
2Estimates show ‘upside potential’ for economy this financial year: Chief Economic Adviser K V Subramanian
3Fiscal deficit at 120 per cent of annual target at October-end