March 4, 2020 / 11:23 PM / a month ago

REFILE-S.Korea finance minister calls for global policy coordination to combat virus

(Adds missing word “it” in quote in second paragraph)

SEOUL, March 5 (Reuters) - South Korea’s finance minister on Thursday said global economies need to coordinate policies to help the world economy withstand the fallout from the coronavirus.

“The COVID-19 is a serious global risk that impacts the world economy, and there are limits to it if each country uses its own set of tools,” Hong Nam-ki said in a statement released after his conference call with the International Monetary and Financial Committee (IMFC), the policy-setting body of the International Monetary Fund.

The call was held on Wednesday, a finance ministry statement showed.

A strong set of “policy mix” is needed to reduce the overall cost of the response and minimize production disruptions, he added.

Reporting by Cynthia Kim Editing by Chris Reese

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