COVID-19 pandemic to bring Asia's 2020 growth to halt for 1st time in 60 years: IMF

COVID-19 pandemic to bring Asia's 2020 growth to halt for 1st time in 60 years: IMF

Channel NewsAsia - Asia·2020-04-16 08:50

FILE PHOTO: A man wearing a protective mask walks past a bus stop displaying preventive measures against the coronavirus in Mumbai, India, March 18, 2020. REUTERS/Francis Mascarenhas/File Photo

TOKYO: Asia's economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an "unprecedented" toll on the region's service sector and major export destinations, the International Monetary Fund said on Thursday (Apr 16).

Policymakers must offer targeted support to households and firms hardest-hit by travel bans, social distancing policies and other measures aimed at containing the pandemic, said Changyong Rhee, director of the IMF's Asia and Pacific Department.

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