paul: that was imf managing director kristalina georgieva. just want to get you some breaking news. we are receiving the updated numbers from hubei province for coronavirus cases. 1933 new cases. of cases ise number close to 70,000. slightly more cases than reported the day before, but the mortality rate appears to remain steady. 933 new cases reported on february 17. plenty more to come. this is bloomberg. ♪ ♪ paul: i am paul allen in sydney in your watching "bloomberg markets asia." measures to combat the coronavirus our top of my for g20 officials meeting and saudi arabia this week. here to discuss more, we have correspondent enda curran. we are seeing signs that they are ready to roll out more fiscal stimulus. slightly encouraging? enda: we are. the regional economy took a hit. course, deeper into the red. the commentary accelerate. certainly in asia, they are trying to figure out a trigger to pull to add more support. paul: we were discussing this today, but there are a number of economic readings in asia, including fourth quarter gdp nu

in fact, the boss of the international monetary fund kristalina georgieva says coronavirus constitutes the "most pressing uncertainty" facing the global economy. the 620 ministers also say it poses a real risk to growth. let's get more on this story. our correspondentjoins us from dubai. what, realistically, can this gathering of finance ministers and central bankers actually do? that is the big question, what can they really do. it is the first big gathering that is taking place after the outbreak of the coronavirus. what we know at this point of time is that in the draft statement that has been prepared and will be discussed during the meeting, it clearly acknowledges the fallout of the coronavirus and it says it poses downside risks for the global economy. however, there is no clarity whether they will be announcing any action orjoint programme to tackle this issue. you mentioned imf, the imf in a note to these leaders who are attending the meeting, spoke about how there is a need to have a joint action plan ready to prepare themselves for the kind of impact that could take place or

we will hear from the managing director kristalina georgieva. that is coming up. this is "bloomberg markets." the coronavirus has upended the imf's policy priorities. managing director kristalina georgieva sat down with yousef gamal el-din to discuss relatively rapid containment of the virus. china's shareday, in the world economy is quite significant. 19% of the world. china's tourists are a very important part of the industry. tourism,lar spent on $0.18 come from china. even a month of reduction in activity inevitably would have an impact on china, and some of it would be translated to the rest of the world. but again, we need to give it a .it of time in terms of containment of the virus domestically, but also in the equivalent of $115 billion in already affected regions. important element here is a broader message. we just saw a reduction of trade tensions. yousef: i was going to follow up on that. you are just coming off the back of these trade tensions. now you've got the coronavirus to deal with. an imf level, what tools are you looking at for a potential sy

the imf managing director kristalina georgieva spoke to bloomberg about the impact. lina: we do not make projections. we operate with scenarios. we are hoping that the most likely scenario would be relatively rapid containment of drop ins, a v-shaped economic activities in china with some impact on the rest of the world, and then there a fast recovery. guy: a very fast recovery. let's get the latest now. sophie kamaruddin joins us from hong kong. a lot of people are still expecting that we will see a relatively quick bounce back, that there will be some kind of stabilization with the coronavirus story. is that what we are getting at this stage? are we there yet? sophie: the market moves are indicative of that optimism, or perhaps complacency. chinese stocks recovering the losses that were seen in the early part of this month on hopes that alice he makers'-- that policymakers' efforts to cushion the economy will see an outcome. we have tax cuts, early bond sales, and money market makeups from the pboc and other regulatory bodies, taking more than 30 supportive measures

in fact, the boss of the international monetary fund kristalina georgieva says coronavirus constitutespressing uncertainty" facing the global economy. the 620 ministers also say it poses a real risk to growth. with us now is janet mui, global economist, with cazenove capital. many of us are worried about this coronavirus outbreak for a number of reasons but, of course, how is it affecting the global economy? right now, what we see is the chinese economy is taking also the hit, 99% of the cases are happening in china and what we see from the high—frequency economic data is that activities have definitely taken a very sharp negative hit. housing transactions are down 90%, coal consumption down 70% and flight data down 40% so the majority of impact we have seen is in china but what we have seen outside of china are so far concerns on production line disruption. seeing companies warning about their profits to earnings because of manufacturing supply chain disruptions. airlines are particularly hit. the hong kong airline, they are starting to lay off staff because of the impact so for the w

bhanu: that was the imf managing director kristalina georgieva.ncine: still with us is bhanu from ubs. we are hearing the imf managing director talk about the world economy. wes not like you are saying be on the cusp of a recession. if you look at the markets, are they behaving the way they should be? bhanu: we are 2.9% global growth. we have a little bit of buffer. q2, we will is in see a decent rebound in global growth. we are not forecasting recession. if this persists, we will go into recession. across asset classes, bond markets are telling you we are heading there. the equity markets are not. the base metal arena has been hit the most. that is telling us copper is struggling to rebound. commodities and rebound, oil is struggling to rebound. equities are telling you this is a shock. the very dissident messages. francine: is this because equities are much more difficult to price? if china collapses or significantly slows down, it impacts the demand for oil straightaway or is it because they are looking at fed? bhanu: i think they are looking a

to david solomon for joining the show up next, an exclusive interview with ivanka trump and kristalina georgievahow they're working together to empower women in the workforce. >> announcer: cnbc news upindicate is sponsored by comcast business ience oflife. - [man] without snhu, i wouldn't be the leader i am today. - [woman] i graduated high school 19 years ago. i still finished. - [man] in the military, you feel that sense of accomplishment. that's what snhu is. - you will march from this arena and say to the world.. i did it. - [woman] you did it. i love you. - [graduate] i love you too. >>> today marks the one-year anniversary of the wgdp, the women's global development on prosperity initiative. it's focused on advancing jobs for women in developing countries through funding and public and private partnerships. presidential adviser ivanka trump today announcing 12 million women around the world have been impacted and unveiled some new legislation i sat down for an exclusive interview with ivanka trump and kristalina gore vee va to talk about the impact. >> today a bipartisan bill called the w