The International Monetary Fund (IMF) Managing Director Kristalina Georgieva sent a message of support to the Chinese people from the IMF headquarters in Washington, DC, late Monday, a Chinese news outlet reports.
Key Quotes:
"We support China's efforts to respond, by taking measures with all the strength of its health system, but also by the recent fiscal, monetary, and financial actions. We are confident in the resilience of China's economy."
"On behalf of all the membership of the IMF, all staff and management, I would like to express our deep sympathies to all those affected by the serious situation related to coronavirus."
Earlier on Tuesday, China's Foreign Ministry said that it hopes that the US provides aid it has promised on the coronavirus outbreak soon.
Market Implications:
These conciliatory and encouraging comments are only likely to add to the improved risk tone, as the anti-risk Japanese yen looks to test the 109.00 level against its American peer.
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