Left Menu
Development News Edition

UPDATE 1-IMF chief hopes for global policy response to mitigate coronavirus impact

UPDATE 1-IMF chief hopes for global policy response to mitigate coronavirus impact
International Monetary Fund (IMF) Image Credit: ANI

The International Monetary Fund hopes governments and central banks will work on a response to the coronavirus outbreak once the economic impact becomes clear, IMF Managing Director Kristalina Georgieva said on Friday.

Speaking at the Munich Security Conference, Georgieva said the next few weeks would be crucial to build up a "bottom-up" picture of the impact of the virus in China and worldwide. "So then we can agree on synchronised, or even better, coordinated measures to protect the world economy from a more serious shock," Georgieva told delegates. "Can we do it? Yes. Are we going to do it? I actually think that we will."

The coronavirus outbreak has killed more than 1,100 people and infected more than 44,000 in China after it first emerged in Wuhan, Hubei province, late last year. China's economy is struggling to get going after the annual Lunar New Year holiday, which was extended for 10 days to help contain the outbreak of the new and highly contagious respiratory virus, officially called 2019-nCov.

Georgieva warned against trying to make accurate predictions now because of a lack of information and said experts forecasting the economic impact were taking a risk. Her main concern was a containment of the epidemic that led to an economic recovery but then was followed by another outbreak of the virus.

"We are looking at data very carefully ... we have to do what people in rapid response do: pray for the best and prepare for the worst," Georgieva said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.



Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Handling fake news Infodemic in time of Coronavirus epidemic

Social media has provided a platform where everybody can disseminate his her views without any supervision. Its excellent if the message is genuine but misinformation is equally disastrous. Health is such a topic where every Tom and Harry c...

Sentiment Analysis on Budget 2020: Long shot for solution to economic worries?

Industries and individuals alike had high expectations from the government to take tangible steps but the budget 2020 seems to have failed expectations....


Latest News

Pragyan Ojha retires from international cricket

Veteran Indian left-arm spinner Pragyan Ojha on Friday announced retirement from international and first-class cricket with immediate effect. The 33-year-old last played for India in 2013 during Sachin Tendulkars farewell Test against the W...

Coronavirus weakens job market for record number of Chinese graduates

The coronavirus outbreak is denting the prospects of this years record 8.7 million-strong Chinese university graduating class, with many students stuck at home just as the corporate recruitment season usually swings into high gear.Graduates...

Kovair Announces the Release of Kovair DevOps Platform for Implementing End-to-End Continuous Delivery Process

Kovair Software, one of the leaders in software tools integrations, today announced the release of Kovair DevOps Platform. The enterprise-class automation solution helps to reduce time to market and implement DevOps with end-to-end automat...

No more retail liquor outlets needed in Goa: Trade body

Liquor traders in Goa on Friday asked the state government to stop issuing any more licencesfor retail sale of alcohol as the industry has reached saturation point.All Goa Liquor Traders Association president Dattaprasad Naik also said if t...

Give Feedback