IMF’s Georgieva: May cut global growth forecast over coronavirus outbreak

Speaking at forum in Dubai on Sunday, Kristalina Georgieva, the International Monetary Policy (IMF) managing director, said that the China coronavirus outbreak (COVID-19) could have a significant impact on the world economy if it is not contained soon while hinting that the IMF could cut the global growth outlook over the virus outbreak.

Key Quotes:

It is going to affect the global value chains. It is already affecting tourism and travel.

The forecast on global economic growth could be revised and reduced by a few percentage points due to the economic impact of the virus.

China today has a bigger share of the world economy than during the SARS outbreak. Now it’s 19 percent. This is not good news for the world.

Now we’re saying 3.3 percent is our forecast, but there may be a cut. We’re hoping it will be in .01 to .02 percentage space.

Cautioned against jumping “prematurely into a conclusion.

• PBOC injects CNY 200 billion via one-year MLF on Monday
• Asia On Its Own On President’s Day