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G20 finance heads see modest growth pickup, to monitor Covid-19 | Malay Mail

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RIYADH, Feb 23 — Finance leaders of the world’s top 20 economies expect economic growth to pick up modestly this year and next thanks to loose monetary policy and an easing of trade tensions, and vowed to monitor the effects of the coronavirus outbreak. The Group of 20 (G20) finance ministers...

Finance leaders of the world’s top 20 economies expect economic growth to pick up modestly this year and next thanks to loose monetary policy and an easing of trade tensions, and vowed to monitor the effects of the coronavirus outbreak. — Reuters pic

“Global growth is expected to pick up modestly in 2020 and 2021. The recovery is supported by the continuation of accommodative financial conditions and some signs of easing trade tensions,” the communique from the financial leaders said. “The outbreak of novel coronavirus pneumonia will inevitably have a relatively big impact on the economy and society,” Xi said, adding the impact 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. As a result, the impact on the world economy would be relatively minor and short-lived,” IMF Managing Director Kristalina Georgieva said on Saturday.

 

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G-20 Finance chiefs meet amidst global economic fearsSINGAPORE/RIYADH: The guardians of the world economy are convening amid mounting fears that the Covid-19 (coronavirus) outbreak poses a greater threat to global growth than first envisaged.
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