The head of the International Monetary Fund said Wednesday she expects the Chinese economy to recover quickly from repercussions linked to the COVID-19 outbreak, although she noted many uncertainties remain.

IMF Managing Director Kristalina Georgieva said in a statement that the "most likely scenario we now view is a V-shaped impact," as factories in China gear up to make up for lost time and warehouses are re-supplied.

"In other words, sharp decline in economic activities in China, followed by a rapid recovery and a total impact on China relatively contained. Therefore, impact on the world economy also contained," the Bulgarian economist added.