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Sunday, February 23, 2020, 20:40
IMF expects China's economy to return to normal in Q2
By Xinhua
Sunday, February 23, 2020, 20:40 By Xinhua

Engineers adjust a medical delivery robot developed by robot manufacturer SIASUN Robot & Automation Co, Ltd in Shenyang, northeast China's Liaoning province, Feb 3, 2020. (YANG QING/XINHUA)

RIYADH – International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said she expects China's economy to "return to normal in the second quarter" of 2020.

"The Chinese authorities are working to mitigate the negative impact (of COVID-19) on the economy," Georgieva said Saturday at the G20 Finance Ministers and Central Bank Governors Meeting.

She said that she "had an excellent discussion" with Chinese senior officials.

"In our current baseline scenario, announced policies are implemented and China's economy would return to normal in the second quarter," Georgieva said.

READ MORE: Virus: China issues guideline on resuming work, production

"As a result, the impact on the world economy would be relatively minor and short-lived," she said.

Georgieva also expressed her "deepest sympathies" to the people in China and other affected areas, saying "the IMF stands ready to help."

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To avoid more dire scenarios, "global cooperation is essential to the containment of the COVID-19 and its economic impact, particularly if the outbreak turns out to be more persistent and widespread," Georgieva said.

She also warned of "the potential risk for fragile states and countries with weak health care systems."  

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