Turkey closes Iran border due to outbreak

People wear masks after deaths and new confirmed cases revealed from the coronavirus in Tehran, Iran on February 21, 2020.

Anadolu Agency

All times below are in Eastern time.

10:28 am: G20 ready to adopt policies to limit economic impact of virus

Saudi Arabia’s finance minister said that finance officials from the Group of 20 major economies agreed to continue monitoring the risk from the coronavirus outbreak and to adopt appropriate policies to limit the global economic impact.

9:45 am: IMF chief sees negative economic impact from virus, even if outbreak contained

The coronavirus that originated in China will have a negative impact on the global economy even if it is rapidly contained, and it would be prudent to prepare for more significant consequences, the head of the IMF said. International Monetary Fund Managing Director Kristalina Georgieva, in a statement issued after a meeting of finance officials from the world’s 20 largest economies, called for coordinated action to contain the human and economic impact of the virus.

9:21 am: Venice Carnival to be halted due to outbreak

The last two days of the Venice Carnival, which draws tourists from around the world, have been canceled because of an outbreak of coronavirus, the head of the Veneto region Luca Zaia said. Events scheduled for Sunday in the lagoon city would continue as planned. “But as of this evening there will be a ban on the Venice Carnival as well as on all events, sporting as well, until March 1 inclusive,” Zaia said.

9:15 am: Turkey to close Iran border, halts flights

Turkey will close its border with Iran as a precautionary measure to halt the potential spread of coronavirus after the neighboring country reported 43 cases of the disease, Turkish Health Minister Fahrettin Koca said. All highways and railways will be closed as of 5 p.m. local time on Sunday and flights from Iran suspended.

6:52 am: South Korea on high alert, confirms sixth death

South Korea raised its coronavirus alert to the “highest level” as cases continued to rise. A sixth person has died from the coronavirus in South Korea, the country’s Centers for Disease and Control and Prevention said Sunday evening. South Korea’s new cases jumped by 169 over the weekend, bringing the its total infected to 602.

6:07 am: China’s Xi says coronavirus situation is still “serious and complex”

Chinese Premier Xi Jinping said the coronavirus situation in China is still “serious and complex,” according to a Reuters translation of state media. He also said that the country would maintain a “prudent” monetary policy, and would introduce new policy measures in a timely way, Reuters reported.

Xi said the epidemic was a major public health emergency with “the fastest spread, the widest range of infections, and the most difficult prevention and control in China” since the founding of the People’s Republic of China, according to state media.

China is the epicenter of the new coronavirus, with 76,936 cases and 2,442 deaths on the mainland as of Feb. 22. Many businesses and schools remain shut, with economists predicting an economic growth slowdown for the country of $1.4 billion.

— CNBC’s Weizhen Tan, Natasha Turak and Reuters contributed to this report.

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