RIYADH: The deadly coronavirus epidemic could put an already fragile global economy recovery at risk, the International Monetary Fund head told G20 finance ministers and central bank governors on Sunday .
"I reported to the G20 that even in the case of rapid containment of the virus, growth in China and the rest of the world would be impacted."Alarm has been growing over the new virus as Chinese authorities lock down millions of people to prevent its spread, with major knock-on effects economically. Georgieva told the two-day Riyadh gathering that the outbreak would shave about 0.1 percentage points from global growth and constrain China's growth to 5.6 per cent this year."COVID-19 is a stark reminder of our interconnections and the need to work together," Georgieva said."In this regard, the G20 is an important forum to help put the global economy on a more sound footing.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19: Some Johor Bahru eateries feel the pinch as fewer Singaporeans travel across the CausewayFood establishments in Johor Bahru are reporting a decline in sales of up to 70 per cent.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Covid-19: Important that retail investors do not panicThen there were nascent signs that Singapore's electronics exports might have turned a significant corner and looked poised to rebound, albeit modestly.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Italy PM announces halt to entry and exit from COVID-19 hotspotsMILAN: Italy's prime minister announced a ban on people entering or leaving new coronavirus hotspots as the number of confirmed infections rose ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Sealed in: Chinese trapped at home by COVID-19 feel the strainDuring weeks holed up in her grandmother's apartment with 10 relatives and eating a restricted diet, Chinese teenager Li Yuxuan says tempers have ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
COVID-19 cases drop as foreign fears riseFears mounted Saturday over the rise of new cases and fatalities outside China from the new coronavirus outbreak, as the World Health Organization ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Richard Branson says new Virgin cruise line will overcome COVID-19 fearsVirgin Voyages' ships would offer a boutique hotel-type design with a festival environment, complete with sundeck yoga, a tattoo studio and vinyl records store said the British entrepreneur.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »