WASHINGTON: The World Bank will revise its global growth forecast downwards due to the new coronavirus, the president of the multilateral lender sai, amid fears the epidemic in China will harm global supply chains. The World Bank last month forecast a rebound in global growth this year after the easing of trade tensions between the US and China that had contributed to a decline in 2019. But World Bank President David Malpass warned the virus that has killed hundreds in China and shuttered businesses and borders posed a threat to the prediction. The World Bank economic outlook predicted the world economy would grow to 2.5pc this year from 2.4pc last year. The World Bank on Monday called for countries worldwide to strengthen their “health surveillance and response systems,” and said it was eyeing what resources and expertise it can contribute to fight the disease.

Source: Pakistan Today February 05, 2020 14:10 UTC