Global economic downturn likely due to 'corona': IMF

Lawyer predicts global growth rate to decline by 0.1 to 0.2 percent

It may be too early to come to a definitive conclusion right now, but the world is ready for sluggish growth due to this virus: Crystalina Georgiova

Dubai, Ta: 16th February, 2020, Sunday

During a program in Dubai, managing director of the International Monetary Fund, Christina Giorgiwa, made the statement that the epidemic spreading to China could affect global development in the year 2020. Cristalina says it is too early to confirm any conclusions right now, but this epidemic has had a profound impact on areas such as tourism and transportation.

Attending and addressing the International Women's Conference held in Dubai, she said that the growth rate was likely to decline by 0.1 to 0.2 per cent due to corona in global development, however growth rates are likely to rise again. So far, more than 1,600 people have died due to the disease.

Although he has advised the people that no decision should be taken at present, but due to this epidemic, sectors such as tourism and transportation are facing a very opposite situation. Crystalina Georgieva has said that at this time one should not come to a definitive conclusion, as no one has sufficient information about the symptoms of the virus.

Apart from this there is no information as to whether the virus will create pandemic in other countries, but the whole world should be prepared for sluggish economic system, because in addition to the uncertainties caused by this virus we are currently facing low productivity growth, low economic growth, low interest rates and high. We are stuck in the midst of inflation.

The International Monetary Fund estimates that the global growth rate will increase by 0.1 to 3.3 percent in 2020. The global growth rate was 2.9 percent last year, the lowest growth rate of the decade. The forum was also attended by Ivanka Trump, daughter of US President Donald Trump and Theresa May, former Prime Minister of Britain.

In the Xinjiang area of ​​northwestern China, trade and industry are currently in turmoil and most areas of China have such a situation. The free trade zone on the Sino-Kazakhstan border was the medium of free trade for the global market.

These zones and corridors are closed due to corona. This has had a profound impact on the transportation industry. In addition, due to the restrictions and restrictions imposed by the Chinese government, no worker can return to his or her job. Due to which its products and trade are almost inactive.

The Shinjiang port, one of China's largest ports, is currently being used to request livelihoods, including vegetables, fruit, from neighboring countries such as Russia, Kazakhstan and Kyrgyzstan. All transportation except this one is closed. Because of this, 80 to 90 percent of China's industries are closed.

The virus is spread even with the touch of currency notes

China began changing currency notes to prevent the spread of the Corona virus

New notes were given in malls, hospitals, banks, etc. of virus affected areas, the old has been stored

Beijing, Ta: Feb 16, 2020, Sunday

Corona virus is spreading in China, many people have died so far while thousands are being treated in hospitals. In the meantime, new measures are being tried by the government to prevent the spread of the virus.

There are now reports that China is monitoring the currency notes to prevent further spread of the Corona virus. In areas where the virus is high, currencies have been stopped from moving and we have decided to keep enough store room.

The corona virus spreads by touch, even with breath. In such a situation, if one has corona virus and its contents are in the note or other currency that he has, then he is more likely to spread the virus when the currency goes to another.

Due to this risk, the Chinese government has started seizing the currency in areas like Wuhan and keeping it in the store room. Banks and other financing agencies or institutions have also been warned for this.

As well as in areas where there is a virus, new notes are being printed and accessed so that the financial crisis is not raised. About $ 572 million has been delivered to New Hubei Province.

All these operations have been entrusted to China's central bank. Even the cash that is in hospitals is currently changing as most Corona virus patients are making financial transactions in hospitals. At the same time, whatever doctors are treating patients, the money they have is also being changed.