WASHINGTON (Pakistan Point News / Sputnik - 06th April, 2020) China's economy shows limited but encouraging signs of recovery after the novel coronavirus (COVID-19) epidemic, but does not rule out its resurgence in the future, the International Monetary FUND (IMF) said on Monday.
"The recovery in China, albeit limited, is encouraging, suggesting that containment measures can succeed in controlling the epidemic and pave the way for a resumption of economic activity," the IMF said in a blog post. "But there is huge uncertainty about the future path of the pandemic and a resurgence of its spread in China and other countries cannot be ruled out."
The IMF emphasized that that China shows at present "modest improvement" in the situation.
However, the IMF called on countries to coordinate globally their response to the COVID-19 pandemic.
"To overcome this pandemic, we need a global, coordinated health and economic policy effort," the IMF said.
The COVID-19 pandemic has pushed the world into a recession and the result of this development will be worse than the financial crisis of 2008, the IMF added.
