Global growth to 'dip below' last year's rate: IMF chief

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.