IMF: next two weeks will be crucial for determining the implications of the coronavirus

the Next two weeks will be crucial to determine the economic impact of the outbreak of coronavirus, said the managing Director of the International monetary Fund (IMF), Kristalina Georgieva.

At this time, China needs to open factories, that allow a better understanding of the stability of the Chinese economy and the impact of coronavirus on the rest of the world, said Georgieva Hadley gamble from CNBC at a conference in Munich.

According to her, IMF is monitoring the spread of the new virus outside China, she also said that this “is not the main problem”, but if it spreads to countries with a weak health system, for example, Africa, then the situation will change.

national Commission on public health of China had previously reported 121 death cases in the country, and more than 5,000 new confirmed cases of coronavirus.

it Seems that the flu-like virus has killed a total of 1380 people in mainland China as of the evening of February 13.

Georgieva cautioned against comparing the new coronavirus with a global outbreak of SARS in the early 2000-ies, the IMF currently uses as a benchmark.

She explained that is not the only strain of the new virus, but the current situation in the economy not only of China but of the whole world. Georgieva pointed out that in the early 2000-ies the share of China accounted for only 8% of the world economy, but now China’s share is 19%.

She added that the world economy at that time was actually in pretty good shape”, but now has become more “sluggish”.

Georgieva expressed gratitude to China for the fact that he made “two very important step,” paying great attention to the areas affected by the flash, and leaving its economy high liquidity while reducing interest rates and providing incentives for the affected areas to support the local economy.