SHANGHAI/SINGAPORE: The International Monetary Fund reiterated that global economic growth appears to be bottoming out, though also cautioned that risks including the coronavirus dominate the outlook. 'After a marked slowdown last year, global economic activity is expected to moderately strengthen in 2020,” the IMF said in a surveillance note released Wednesday (Feb 18).
Workers wearing face masks sorting and packaging eggs at a factory, in Rongcheng, Shandong province, China. The fIMF on Wednesday left unchanged its January projection that global growth will accelerate to 3.3% this year from 2.9% in 2019 and confident China will recover from the outbreak. - Reuters
"Monetary and fiscal policy actions were instrumental in supporting activity, thus avoiding a deeper downturn.” "Downside risks to the outlook continue to dominate,” the IMF said, noting that a further spread of the coronavirus or renewed trade tensions could help derail any recovery. The outbreak"is disrupting economic activity in China as production has been halted and mobility around affected regions limited.”
The fund on Wednesday left unchanged its January projection that global growth will accelerate to 3.3% this year from 2.9% in 2019.
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