Coronavirus Impact: IMF Could Reduce Global Economic Growth Forecast

Coronavirus Impact: IMF Could Reduce Global Economic Growth Forecast

Kristalina Georgieva, Managing Director - International Monetary Fund (IMF), has warned of serious effects on the world economy if the Wuhan coronavirus outbreak (COVID-19) is not contained soon.. The IMF official also hinted that they might have to look at reducing the global economic growth forecast by a few percentage points due to the economic impact of the Coronavirus.. "China today has a bigger share of the world economy than during the SARS outbreak.. IMF's earlier projections saw a rise of 3.3 per cent in 2020 from that of a 2.9 per cent last year.. According to Georgieva, the impact of the coronavirus could mean a downward revision of .01 to .02 percentage points.. IMF also recently released a foreboding report, warning that Arab monarchies of the Persian Gulf were facing a budget reckoning and risk squandering their US$2 trillion in financial wealth within 15 years as oil demand neared peak levels..