Coronavirus Alert from the IMF

Georgieva made a written statement after the "G20 Finance Ministers and Central Bank Governors Meetings" held in Riyadh, the capital of Saudi Arabia. "We need to work together to control the human and economic effects of Covid-19, especially if the epidemic becomes more permanent and widespread. Growth in China and the rest of the world will be affected even if the virus is brought under control quickly" Pointing out that the new type of coronavirus epidemic emerging in China negatively affects the economic activities in the country, Georgieva said that this situation also puts the expectations of recovery for global economic growth at risk. "The growth in China and the rest of the world will be affected even if the virus is brought under control quickly," said Georgieva, stating that the outbreak is a humanitarian tragedy. Underlining that it is necessary to be prepared for worse scenarios considering the uncertainty caused by the virus, Georgieva stated that in addition to the mentioned epidemic, there are also risks such as high risk of countries and companies due to increased risk premium or unexpected tightening in financial conditions and increased natural disasters caused by climate change.

EMPHASIS ON UNITY

"We need to work together to control the human and economic effects of Covid-19, especially if the epidemic becomes more permanent and widespread," Georgieva pointed out in areas where international cooperation is important. Emphasizing that cooperation is necessary to further reduce the uncertainty in global trade, Georgieva pointed out that despite the first-phase trade agreement between the USA and China, trade tension caused a 0.6 percent decline in global growth this year and pointed to the importance of the transition to "trade peace". Georgieva finally highlighted that the world should be in cooperation against climate change.