IMF chief says growth forecast cuts ‘very likely’ as coronavirus hits economies hard

International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday it was “very likely” the Fund would cut global growth forecasts further as the coronavirus pandemic was hitting many economies harder than previously projected.

“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 some time 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.”