IMF's Georgieva urges cooperation to combat pandemic and boost economy

The head of the International Monetary Fund on Friday said a retreat into protectionism could weaken the prospects for global recovery at a point when it was possible that "more adverse scenarios" could emerge, depending on the development of the pandemic.

IMF Managing Director Kristalina Georgieva told an online event hosted by the European University Institute that there were still many uncertainties about the health and economic impacts of the novel coronavirus pandemic.

Asked how concerned she was that rising U.S.- China tensions could jeopardize the global economy, Georgieva said, "It is hugely important for us to resist what may be a natural tendency to retreat behind our borders." Reigniting world trade was critical to ensuring a global economic recovery, she said.