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IMF Sees Asia Pacific Economic Growth at Standstill in 2020

  • 17 Asian countries had interest in IMF emergency instruments
  • Zero growth for Asia would be first time in about 60 years
Bloomberg business news
WATCH: Changyong Rhee, Asia and Pacific department director at the IMF, discusses the growth outlook for the region amid the coronavirus outbreak.(Source: Bloomberg)
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Economic growth in the Asia Pacific region will likely slow to a standstill in 2020, something that hasn’t happened in the last 60 years, according to the International Monetary Fund.

Changyong Rhee, director of the lender’s Asia and Pacific Department, urged governments in the region to utilize all policy options to support their economies during the coronavirus pandemic, including bilateral and multilateral swap arrangements.