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IMF chief says coronavirus hits economic data hard, growth forecast cuts "very likely"

12 May 2020 18:44 (UTC +04:00)

International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday that it was “very likely” that the Fund will cut global growth forecasts further as the coronavirus is hitting many economies harder than previously projected, APA reports citing Reuters.

“Incoming data from many countries is worse than our already pessimistic projections,” Georgieva said during a webcast conference sponsored by the Financial Times. “Very likely we are going to come up with the update to our projections sometime in June, and at that point...our expectation is that there would be a bit more bad news in terms of how we see 2020.”