ECONOMY

IMF chief hopes for global policy response to mitigate coronavirus impact

Kristalina Georgieva attends a session on the first day of the Munich Security Conference in Munich, Germany, on Feb. 14, 2020. (AP)

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 synchronized, 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.”

A World Health Organization-led joint mission with China will start its outbreak investigation work this weekend and will focus on how the new coronavirus is spreading and the severity of the disease, the WHO’s director said on Friday.

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Last Update: Saturday, 15 February 2020 KSA 01:50 - GMT 22:50
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