Swine flu could hit global economy: IMF
May 18, 2009
Tokyo - The global spread of swine flu could have "notable effects" on the world economy, a senior IMF official said Monday, warning that the economic crisis was far from over.
John Lipsky, first deputy managing director of the International Monetary Fund, said the risks from the new type of flu "are hard to predict as it is unknown, as well as regarding its spread and its mortality."
"But even so, it could have notable effects," he said.
"Hopefully the impact will turn out to be quite modest and contained. But in the wake of the avian flu threat a few years ago, very extensive contingency plans were put in place regarding, for example, operations of the financial sector."
As for the global economic downturn, it is "far from over," he said in a speech here, suggesting that many Asian nations have room to cut interest rates further to spur a recovery in their economies.
Swine flu infections across the globe have soared above 8 000. More than 70 people have died from the virus - all of them in the Americas and nearly all in Mexico, where the new strain was first detected less than a month ago.
In Japan the number of confirmed cases rose to 129 on Monday, with hundreds of schools closed to battle the outbreak. - AFP
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