Mexico shuts down

MEXICO CITY, April 30 (Reuters) - Mexico's president ordered a partial economic shutdown to slow the spread of the swine flu virus as officials urged increased precautions against an imminent pandemic.

One day after the World Health Organization warned that the world was on the brink of a global outbreak of the new flu strain H1N1, an International Monetary Fund economist warned that some countries could see drastic consequences from the illness.

New cases of swine flu infections were reported in the United States, Latin America and in Europe. U.S. officials said new infections were occurring, although only a handful of people outside Mexico have required hospital treatment.

In Mexico, the worst hit country with 176 deaths, President Felipe Calderon told government offices and private businesses not crucial to the economy to stop work beginning on Friday to avoid further spreading a virus that is striking across age and class lines.

"There is no safer place than your own home to avoid being infected with the flu virus," Calderon said in his first televised address since the outbreak started. [ID:nN29466276]

Global markets were taking the flu news in their stride, and Wall Street opened stronger on hopes that the U.S. recession is easing. [ID:nN30516602]

But the International Monetary Fund's chief economist warned of "quite drastic" consequences for some countries, particularly on tourism [ID:nN30516602], while a top White House aide said the biggest threat was uncertainty.

"Uncertainty is probably the biggest effect right now. Whether it will make consumers more nervous, whether ... governments will have to take actions that will have economic consequences," Christina Romer, chairwoman of the White House Council of Economic Advisers, told a congressional hearing.

The WHO and flu experts say they do not yet know enough about this new strain to say how deadly it actually is, how far it might spread and how long any potential pandemic may last.

Flu epidemics generally last a few weeks or months in any single community, and can pass around the world in one or two waves over 18 months to two years before fading out.

WHO urges flu precautions, Mexico shuts down