IMF warns coronavirus epidemic can put an already fragile global economic recovery at risk as G20 financial chiefs voice 'real concern'
IMF Managing Director Kristalina Georgieva speaks next to Morocco's Central Bank Governor Abdellatif Jouahri and Minister of Finance Mohamed Benchaaboun during a news conference in Rabat, Morocco, February 20, 2020.
But the projected recovery was "fragile", she warned, amid global alarm over rising Coronavirus cases in multiple countries even as Chinese authorities lock down millions of people to prevent its spread, with major knock-on effects for the world economy. Paris on Friday announced a host of measures to assist French companies affected by the fallout from the epidemic.
EU economic affairs commissioner Paolo Gentiloni said the G20 was ready to react with "pro-growth policies" to alleviate the downside risks. The gathered financial leaders vowed to "enhance global risk monitoring" of the outbreak, according to the G20 final communique.Georgieva told the Riyadh gathering that the outbreak would shave about 0.1 percentage points from global growth and constrain China's growth to 5.6 percent this year, in a baseline scenario.
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