GCC faces risks if coronavirus impact is not contained by March

GCC faces risks if coronavirus impact is not contained by March

GCC faces key risks if coronavirus impact is not contained by March. GCC economies will be facing a major setback if the coronavirus outbreak in China would not be contained in the first quarter, global ratings agency S&P said on Monday.. "We expect the impact will be limited assuming the virus will be contained by March 2020, allowing travel and other restrictions to be unwound in the second quarter, and there is no major impact in oil prices," Mohamed Damac, S&P primary credit analyst said.. ( Coronavirus: Everything you need to know about the Covid-19 Wuhan virus outbreak). Damak said there would be an impact on visitors to the region, investments and potentially commodity prices if the virus is not contained by March and travel restrictions are not lifted.. All members of the GCC - Saudi Arabia, the UAE, Bahrain, Qatar, Oman and Kuwait - stand to suffer from the travel restrictions, but the business hub of Dubai could see the biggest impact, S&P analysts said.. If the virus continues to spread, there is a risk that the economic impact could increase unpredictably, with credit implications not just for China but elsewhere. ". Under our base-case scenario we expect the