The World Bank called for countries to “strengthen their health surveillance and response systems” in order to fight the 2019 novel coronavirus outbreak.
In a statement, the institution said that the World Bank Group was considering mobilizing its financial and technical resources “quickly to support affected countries” as well as the institution was “closely coordinating with international partners to accelerate the international response.”
The financial markets of China tanked due to the fears that it could paralyze China and could harm the global economy as the 2019 novel coronavirus has already infected 17,200 people and spread to more than 20 countries globally.
The World Bank also said that the institution was “monitoring the wider economic and social impacts of this crisis” and will support “China’s efforts to respond, including its efforts to maintain resilience in its economy” as well.
Kristalina Georgieva, the International Monetary Fund chief, said that the negative impacts on the economy in the first half of 2020 were likely, yet “it would be irresponsible to offer any speculations around what may happen.”
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