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.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app