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IMF chief: China-U.S. trade deal will reduce global uncertainty

2020/1/19 11:41:11   source:CGTN

The signing of the China-U.S. phase one trade deal will reduce the uncertainty that has dragged global economic growth, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said Friday.

"It is a welcoming sign that we now have the phase one deal, sign in terms of reducing some of the uncertainty," Georgieva said at an event hosted by the Peterson Institute for International Economics.

Georgieva said the IMF will release an adjusted global economic forecast as part of the World Economic Outlook at the World Economic Forum in Davos, Switzerland, on Monday.

The IMF predicted that the trade deal would support China's GDP growth. "It brings China in the parameters around the 6 percent growth for 2020, rather than below," Georgieva said.

In October, the IMF lowered its global growth forecast for 2019 to 3 percent and said trade tensions will cumulatively reduce the level of global GDP by 0.8 percent, or 700 billion U.S. dollars, by 2020.

"We have to work on a trade system that is fair, transparent and beneficial. The world needs to step up our ambition to unleash the growth potential of trade," Georgieva said in an interview with CGTN in October.

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