The Group of 20 finance ministers and central bank heads faced a sober presentation by the International Monetary Fund , which predicted the epidemic would shave 0.1 percentage points off global growth.Finance chiefs of the world’s top 20 economies vowed to monitor the impact of the coronavirus outbreak on global growth and act if needed, as they said loose monetary policy and easing trade tensions would prompt a pick-up in 2020 and 2021.
U.S. Treasury Secretary Steven Mnuchin said central bankers would look at options to respond to the epidemic if needed, while Bank of Japan governor Haruhiko Kuroda said he was ready to ease policy if necessary. “The outbreak of novel coronavirus pneumonia will inevitably have a relatively big impact on the economy and society,” Xi said, though he added the effects would be short-term and controllable.
“In our current baseline scenario, announced policies are implemented and China’s economy would return to normal in the second quarter,” IMF Managing Director Kristalina Georgieva said on Saturday.“But we are also looking at more dire scenarios where the spread of the virus continues for longer and more globally, and the growth consequences are more protracted,” she added.
“It would extremely diminish the regulatory effect of what we’re trying to do. That is a view expressed by various countries,” he said.
globebusiness Growth, growth, growth...... when is it enough and when is it going to end? Likely when every morsel of resources is extracted from mother earth and she is absolutely drained and polluted. What of us? Extinct. What with the profit? You know what they can do with it at that time.
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