{"id":27577,"date":"2022-11-23T10:45:03","date_gmt":"2022-11-23T10:45:03","guid":{"rendered":"https:\/\/www.nsemgh.com\/?p=27577"},"modified":"2022-11-23T10:45:06","modified_gmt":"2022-11-23T10:45:06","slug":"imf-urges-china-to-boost-covid-vaccinations","status":"publish","type":"post","link":"https:\/\/www.nsemgh.com\/2022\/11\/23\/imf-urges-china-to-boost-covid-vaccinations\/","title":{"rendered":"IMF urges China to boost Covid vaccinations"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The International Monetary Fund has urged China to \u2018recalibrate\u2019 its Covid-19 strategy, including boosting vaccination rates, and to shore up its troubled property sector to restore confidence.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a statement following virtual meetings for its annual review of China\u2019s economic policies, the Washington-based fund said it was maintaining GDP growth forecasts issued in October.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is forecasting growth of 3.2% this year and 4.4% next year, assuming a gradual lifting of China\u2019s strict zero-Covid policy in the second half of next year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The IMF\u2019s first deputy managing editor Gita Gopinath said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><\/p><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Although the zero-Covid strategy has become nimbler over time, the combination of more contagious Covid variants and persistent gaps in vaccinations have led to the need for more frequent lockdowns, weighing on consumption and private investment, including in housing.<\/p><p>Going forward, a further recalibration of the Covid strategy should be well prepared and include boosting the pace of vaccinations and maintaining it at a high level to ensure that protection is preserved.<\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Chinese authorities are seeking to contain a fresh spike in Covid infections that has dimmed hopes for a quick reopening of the economy, the world\u2019s second-largest.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The fund welcomed authorities\u2019 recent initiatives for China\u2019s slumping property industry, including a loan programme to help complete unfinished homes and allowing forbearance on troubled property loans. Gopinath said:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">IMF urges China to \u2018recalibrate\u2019 coronavirus policy, aid vulnerable households amid shaky external environment <a href=\"https:\/\/t.co\/rp1zObwrdk\">https:\/\/t.co\/rp1zObwrdk<\/a><\/p>&mdash; South China Morning Post (@SCMPNews) <a href=\"https:\/\/x.com\/SCMPNews\/status\/1595347844986183680?ref_src=twsrc%5Etfw\">November 23, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><\/p><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Building on these efforts, additional robust and well-funded mechanisms are needed for completing troubled unfinished projects and protecting new presale buyers from the risk of non-completion, while forbearance measures should be phased out.<\/p><p>These measures will help restore homebuyer confidence and facilitate market-based restructuring.<\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">She stressed the need for structural reforms in the sector and new savings models.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund has urged China to \u2018recalibrate\u2019 its Covid-19 strategy, including boosting vaccination rates, and to shore up its troubled property sector to restore confidence. In a statement following virtual meetings for its annual review of China\u2019s economic policies, the Washington-based fund said it was maintaining GDP growth forecasts issued in October. It [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":23181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61,64,12],"tags":[7421,5222,5643,5200,5196,9643,1237,6543,10598,11715,5060,10954,2183,8062,9343,7225,6565,10742,96,6544,10214,11495,5807,5350,5223,2354,3954,36,6309],"class_list":["post-27577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-health-fitness","category-world-news","tag-chinese","tag-covid","tag-covid-vaccination","tag-covid-19","tag-economy","tag-fund","tag-gdp","tag-growth","tag-homes","tag-housing","tag-imf","tag-international","tag-international-monetary-fund","tag-international-monetary-fundimf","tag-investment","tag-loan","tag-loans","tag-market","tag-china","tag-property","tag-rates","tag-reforms","tag-risk","tag-twitter","tag-vaccination","tag-washington","tag-will","tag-world","tag-zero-covid"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=27577"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/27577\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/23181"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=27577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=27577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=27577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}