Be ready to face unexpected economic slowdown, EU to tell G20

BRUSSELS (Reuters) – European Union finance ministers will warn their counterparts from the world’s most industrialized nations they should get ready to face a potentially large global slowdown, an EU document seen by Reuters says.

The warning adds to concerns over the impact of the coronavirus outbreak in China whose death toll spiked on Thursday after a new testing method for infections was introduced in Hubei province, the epicenter of the epidemic.

Without explicitly mentioning the coronavirus, the EU will tell a G20 meeting of finance ministers next week that the world should get ready for unexpected bad news.

“The G20 should safeguard against downside risks and be ready to respond to a larger than expected slowdown,” the EU’s internal document says.

 

19 views
READ  Portugal is feeling the economic effects of the pandemic
READ  Are....YOU....ready?