The statement came after IMF concluded its annual consultation mission to the country. An IMF team, led by Helge Berger, mission chief for China and assistant director of the Asia and Pacific Department, conducted discussions virtually with senior Chinese government and banking officials as well as private business executives in a 13-day Article IV Mission consultation that ended on November 10.
The consultation is so called because it is based on Article IV of the IMF's Articles of Agreement. It usually involves bilateral discussions between the IMF and a member to assess a member's economic health and to forestall financial risks.
"After strong containment efforts last year to keep the outbreak under control, a successful vaccination campaign has inoculated the vast majority of Chinese citizens," Geoffrey Okamoto, IMF's first deputy managing director said.
However, he cautioned that as elsewhere, the more contagious variants are posing challenges.
The IMF has predicted China's economy to grow at 8 per cent this year, and at 5.6 per cent for 2022, and the pandemic and consumption again could pose short-term risks to the forecast, the 190-member global lender said in a press release.
IMF also said China plays a key role in the multilateral effort to address global challenges.
ALCHEMPro News Desk (DS)
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