CGTN America
CGTN America 15 Oct 2020

IMF says China to be the only economy with positive growth in 2020

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The International Monetary Fund and World Bank started their annual meetings in Washington, D.C., this week.

The IMF published its latest World Economic Outlook on Tuesday, forecasting the global economy will contract by 4.4% in 2020.

The IMF said China, however, holds the distinction of being the only major economy projected to achieve growth in 2020, forecast to hit 1.9% for the year.

And in its outlook, the IMF said it expects China's growth will accelerate to 8.2 percent next year.

In an exclusive interview, CGTN's Yin Yue spoke to Vitor Gaspar, Director of the Fiscal Affairs Department of the IMF, about global economic recovery and what fiscal risks China and world face now.


The International Monetary Fund (IMF) on Tuesday projected the global economy would contract by 4.4% in 2020, 0.8 percentage point above the June forecast, according to its latest World Economic Outlook (WEO) report.

The IMF also warns of a "long, uneven and uncertain" recovery from a worldwide recession sparked by the coronavirus pandemic.

China is expected to grow by 1.9%, the only major economy that could see growth this year.

In an exclusive interview, CGTN's Giles Gibson spoke to Gita Gopinath, Chief Economist, IMF about the global GDP and what China's positive GDP growth in 2020 means for the global economy.
The International Monetary Fund (IMF) on Tuesday projected the global economy would contract by 4.4% in 2020, 0.8 percentage point above the June forecast, according to its latest World Economic Outlook (WEO) report.

The IMF also warns of a "long, uneven and uncertain" recovery from a worldwide recession sparked by the coronavirus pandemic.

China is expected to grow by 1.9%, the only major economy that could see growth this year.

In an exclusive interview, CGTN's Yin Yue spoke to Gita Gopinath, Chief Economist, IMF about the global GDP and what China's positive GDP growth in 2020 means for the global economy.
The International Monetary Fund and World Bank annual meetings kicked off in Washington, D.C., this week.

This, as economists warn of the worst global recession since the Great Depression in the 1930s.

The IMF released its latest World Economic Outlook this week, predicting global GDP will contract by 4.4% in 2020.

The forecast was slightly better than its last one in June, but the organization still warned of a "long, uneven and uncertain" recovery from the coronavirus pandemic.

China continues to be the only economy in the world to show positive growth in 2020 as its GDP is predicted to expand 1.9 percent this year, according to the IMF report.

In an exclusive interview, CGTN's Yin Yue spoke to Kristalina Georgieva, Managing Director of the IMF, about the global economic recovery from the coronavirus pandemic and why China may lead the way.

"China put in place massive fiscal and monetary stimulus," Georgieva said. "And China has been very effective in containing the spread of the virus."

She added, "China's growth for this year…This is going to be good for China. It is also good for the world economy."
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