International Monetary Fund (IMF) has warned that the deadly coronavirus epidemic could put at risk the recovery of an already fragile global economy. IMF chief Kristalina Georgieva said that global growth is poised for a modest rebound to 3.3 per cent this year, up from 2.9 per cent last year.

Speaking after a two-day meeting of G20 Finance Ministers and central bank governors in Riyadh yesterday, she said the projected recovery is fragile. Georgieva said the COVID-19 virus - a global health emergency - has disrupted economic activity in China and could put the recovery at risk.

At the meeting in Saudi Arabia, financial leaders also discussed ways to achieve consensus on a global taxation system for the digital era by the end of 2020. The gathered financial leaders vowed to enhance global risk monitoring of the outbreak.

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