Virus will slow global economic growth this year

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    The spread of the coronavirus will hold 2020 global output gains to their slowest pace since the 2008-2009 financial crisis, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Wednesday.

    The IMF now expects 2020 world growth to be below the 2.9 percent rate for 2019 and revised forecasts will be issued in the coming weeks.

    The IMF is making available $50bn in emergency funding to help poor and middle-income countries with weak health systems respond to the epidemic, Georgieva said after a call with the IMF’s steering committee.

    Source: AL JAZEERA

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