IMF chief's advice to China on reopening economy amid Covid
Hindustan TimesThe head of the International Monetary Fund urged China to move forward with reopening its economy, calling the nation’s transition from a Covid Zero policy to more normal functioning likely the single most important factor for global growth in 2023. Read here: WHO says Covid deaths in China ‘heavily underreported’; praises US transparency The Washington-based financial institution believes that a world recession can be avoided, even as growth slows from an estimated 3.2% in 2022, Managing Director Kristalina Georgieva told reporters Thursday. “What is most important is for China to stay the course, not to back off from that reopening,” said Georgieva, who visited the world’s second-largest economy last month for the first time since the start of the pandemic. “If they stay the course, by mid-year or there around, China will turn into a positive contributor to average global growth,” she said, calling the nation’s 2022 performance “very disappointing.” Read here: US House backs committee focused on tackling threats from China In response to a question Friday about Georgieva’s remarks, Foreign Ministry spokesman Wang Wenbin said China had received praise from the international community for “refining” its Covid-response measures.