Global growth this year would be much lower than 2019 level as the coronavirus, or COVID-19, spreads to several countries hurting economic activity, International Monetary Fund Managing Director Kristalina Georgieva said Wednesday. "Under any scenario, global growth in 2020 will fall below last year's level," Georgieva said during a press briefing, where she was joined by World Bank Group President David Malpass.
"How far it will fall, and for how long, will depend on the coronavirus epidemic, but also on the quality, timeliness, and effectiveness of policy actions," she added.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.