Fri. Apr 3rd, 2020

The IMF says the world economy could fall 0.1 or 0.2% because of the coronavirus



The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, said Sunday in the emirate city of Dubai that the growth of the world economy, estimated at 3.3% by 2020, could be reduced by 0.1 and 0.2% for the coronavirus outbreak, although it is still too early to know its impact.

“We expect that our prediction is 3.3%, here maybe (there could be) a cut of 0.1 to 0.2% in the percentage space in growth of 3.3% in 2020,” Georgieva said, during a intervention at the Global Women’s Forum 2020 in Dubai.

The IMF chief said that if Wuhan’s coronavirus (COVID-19) is contained quickly, there could be a sharp decline in the economy followed by a “very rapid recovery”, which is known as a V curve.

However, he considered that it is still too early to know what the exact impact of the outbreak will be.

“We are in a world with more uncertainty, we have to learn to build more predictability … The nature of the virus is unknown as well as how quickly China can contain it,” he concluded.

The deaths by COVID-19 continue to increase and already add up to 1,665 people in China, after adding 142 dead this Sunday to the official count.

In contrast, the new confirmed cases in the Asian country undertake a downward trend: although the Chinese National Health Commission announced 5,090 new cases on Friday and 2,641 on Saturday, in today’s last count this figure drops to 2,009 people.

The United Arab Emirates has reported eight cases of coronavirus to date, including four members of a Chinese family, although at least three of them have already recovered.

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