Coronavirus Outbreak May Have 'Larger Impact' On Global Economy - IMF

(@FahadShabbir)

Coronavirus Outbreak May Have 'Larger Impact' on Global Economy - IMF

WASHINGTON (UrduPoint News / Sputnik - 13th February, 2020) The International Monetary Fund (IMF) does not rule out that the spread of the novel coronavirus worldwide may have a greater impact on the Chinese and global economy depending on what is not known at present, IMF spokesperson Gerry Rice said during the press briefing on Thursday.

Rice suggested it may be more useful to think in terms of possible scenarios, rather than offer specific projections, given the uncertainty of the situation.

"One possible scenario - that we would hope for - is that we would see a sudden but brief interruption of economic activity followed by a period of sudden catch up to growth driven by demand," Rice told reporters.

"However there are other scenarios under which the coronavirus could have larger impact depending on what we do not know at this stage - the timing and shape."

Rice pointed out that any scenario would have most immediate economic impact on China, but the country's neighbors and other countries also would be affected.

Rice also said that the IMF strongly support efforts China has made to contain the spread of the novel coronavirus.

The current death toll from the novel coronavirus exceeds 1,350 with some 60,000 people being infected worldwide. The virus has spread to more than 20 countries since it was first detected in the Chinese city of Wuhan in late December.

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