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Coronavirus to have 'large impact' on Asia, emerging economies: IMF
Coronavirus to have 'large impact' on Asia, emerging economies: IMF
ABS-CBN News
Published Apr 16, 2020 11:18 AM PHT
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MANILA - The coronavirus pandemic will likely have a “large impact” on emerging economies including the Philippines, the International Monetary Fund said Thursday.
Asia's economy could grow at the slowest clip in the last 60 years, said Changyong Rhee, director of the IMF's Asia and Pacific Department.
Security personnel wearing face masks to contain the spread of coronavirus disease (COVID-19) walk along a street outside the Forbidden City in Beijing, China March 18, 2020. Carlos Garcia Rawlin, Reuters/File Photo
“Unless we see containment in other parts of the world, it would be very hard to see fast recover. So we are asking policy makers not be complacent and use many arsenals, many tools, whatever they have this moment," he said.
The Philippines still have space for fiscal policies to cushion the impact of COVID-19, he said.
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