IMF chief urges “China to re-correct its zero-corona policy”
International Monetary Fund (IMF) President Kristalina Georgieva urged the Chinese government to re-correct its “Zero Corona” policy, a high-intensity quarantine regulation, on the 29th local time.
In an interview with the Associated Press in Berlin, Germany, he urged, “China should re-calibrate its zero-corona policy in a form that accurately targets confirmed patients on a case-by-case basis, taking into accounting for its impact on people and the economy.
In China, hundreds to thousands of people are protesting against COVID-19-related high-intensity containment measures in Beijing, Shanghai, Wuhan, Chengdu, Nanjing, and Guangzhou as suspicions spread that COVID-19 is related to delayed extinguishment and high-intensity quarantine measures after an apartment fire in Urumqi, Xinjiang.
This is the first time in 33 years that protests against government policies have been organized in many parts of the country since the 1989 Tiananmen pro-democracy protests.
President Georgieva said, “We are witnessing how important it is to move away from strong containment measures and take restrictions aimed at targets accurately,” and stressed, “We can prevent the spread of COVID-19 without heavy economic costs.”
He urged China to review its COVID-19 vaccination policy, and also urged vaccinations for the most vulnerable.
China has been forced to rely on containment measures due to the spread of highly infectious COVID-19 mutations amid the low vaccination rate of the elderly.
The IMF predicts that China’s economic growth rate will be 3.2 percent this year, below the global economic growth rate.
Georgieva cited high inflation as the biggest risk facing the global economy.
This explains that the central bank has to raise interest rates, which increases lending costs for households and companies.
Asked if the U.S. Federal Reserve should stop raising interest rates, Georgieva stressed, “The Fed has no choice but to stick to its current stance until inflation falls reliably,” adding, “If you look at the current data, it is too early to retreat.”