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Added on the 14/04/2016 15:55:24 - Copyright : AFP EN
IMF chief Kristalina Georgieva warns the global recession risks are rising and urges policy action "to regroup and to rethink how can we adopt a more proactive precautionary mindset that we had in the past." SOUNDBITE
"Global growth in 2020 will dip below its last year's levels," says International Monetary Fund chief Kristalina Georgieva, "but how far it will fall and how long the impact will be, is still difficult to predict." Georgieva was speaking after all 189 members of the IMF said they were united in addressing the challenges posed by COVID-19. SOUNDBITE
"This is no longer a regional issue," says International Monetary Fund (IMF) chief Kristalina Georgieva of the new coronavirus epidemic, "it is a global problem, calling for a global response." Georgieva was addressing a news conference after the 189 members of the International Monetary Fund pledged to bring all available resources to bear to help countries combat the impact of the coronavirus. SOUNDBITE
The International Monetary Fund slightly lowers its outlook for the global economy, predicting the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January. SOUNDBITE
The EU's economy commissioner says the collapse of Silicon Valley Bank in the United States does not pose a serious threat to Europe, amid investors' fears of contagion throughout the financial sector. "The possibility of indirect impact is something that we have to monitor but, at the moment, we don't see it as a significant risk," Paolo Gentiloni told reporters in Brussels as European stock were down heavily in afternoon trading. SOUNDBITE
The head of the IMF warns that Western subsidies to combat climate change and encourage the transition to clean energy sources risk hitting developing and emerging markets. "My biggest concern is that something that in principle is very good to accelerate the transition to the green economy by using public money to step up private investment... may not serve well the emerging markets and the developing world," Kristalina Georgieva says at the World Economic Forum in Davos. SOUNDBITE
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