IMF: Too early for accurate figures on coronavirus impact on global growth

It is premature to give precise projections of economic growth in China and the World in 2020 following the outbreak of coronavirus, IMF Managing Director Kristalina Georgieva said on Thursday.

The IMF is still reviewing its projections for growth in China while looking at the impact of the epidemic on the global economy, Georgieva told a news conference in Morocco’s capital Rabat, where she discussed preparations for IMF and World Bank Group meetings to be held in October 2021 in Marrakech.

The IMF said last month global growth is projected to rise from an estimated 2.9% in 2019 to 3.3% in 2020 and 3.4% in 2021. “We are still hoping that the impact will be a V shaped curve” with a sharp decline in China and sharp rebound after the countainment of the virus, she said. “But we are not excluding that it might turn to be a different scenario like a U curve where the impact is somewhat longer.”

Too early for accurate figures on coronavirus impact on global growth: IMF, Reuters, Feb 20