The International Monetary Fund(IMF) is likely to downgrade its global economic growth forecast. 

IMF spokesperson Gerry Rice said Thursday that the IMF is likely to downgrade its growth projections for the world as the fast-spreading novel coronavirus will have an impact on global economic growth. 

Rice stopped short of elaborating on the downgrade, only saying more details would emerge as the IMF prepares to release a new World Economic Outlook in April. 

Earlier on January 20, the IMF forecast in its World Economic Outlook report issued at the Davos Forum that the world economy will post growth of three-point-three percent this year. That’s down point-one percentage point from an previous projection issued last October.