IMF: China can top up stimulus if virus outbreak hurts growth

Changyong Rhee, director of the IMF's Asia and Pacific Department. - AFP)

TOKYO (Reuters): China has room to ramp up stimulus if its economy slows further due to the Covid-19 outbreak, but should not lose sight of structural reforms to address rapid credit growth, a senior International Monetary Fund official said on Wednesday (Feb 12).

Changyong Rhee, director of the IMF’s Asia and Pacific Department, said China’s growth rate has been moderating even before the outbreak of the coronavirus because of “desirable” steps by its government to deleverage its economy.