G20 finance heads eye impact of coronavirus outbreak on growth, see modest pickup

RIYADH - 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.

“Global growth is expected to pick up modestly in 2020 and 2021,” they predicted. “The recovery is supported by the continuation of accommodative financial conditions and some signs of easing trade tensions.” Chinese state television quoted China’s President Xi Jinping as saying on Sunday Beijing would step up policy adjustments to help cushion the blow on the economy from the outbreak.

South Korea raised its infectious disease alert to its highest level on Sunday but the European Union saw “no need to panic” over an outbreak in Italy. The group’s efforts were stalled late last year by last-minute changes demanded by Washington, including a proposed “safe harbor” regime which critics say would let multinationals choose whether to abide by the new set of rules or stick to existing regulations.

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France has seen a 30% to 40% fall in tourists following the coronavirus outbreak: Finance ministerBruno Le Maire, France's finance minister, said the drop off in tourist numbers is an 'important impact' on the country's economy. With Climate Change gaining speed, tourism should be ended anyways. kuku27 Naturally No that’s probably due to France being an overrated dump of tourist attractions. Every major tourist attraction in France is far too expensive and consists of congestion and being hassled by street sellers and scammers.
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