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WASHINGTON- The coronavirus contagion has already brought intensive level of tension in China’s economy and further spread of the virus to other nations could inflict more damage to an already weak recovery of global economy, the International Monetary Fund disclosed on Wednesday.
Included in the document released by the international lender were risks including the novel coronavirus, reemerging concerns brought by Sino-US trade tensions, and natural calamities.
The spread of virus remained to be an indicator that unforeseen events could directly impact an already weak and slow-paced recovery of the economy. In line with this, G20 policymakers were nudged to intensively work in order to minimize and completely mitigate other economic threats connected to trade, climate change, and inequality.
Financial chairpersons and central bankers from 20 leading economies will meet in Riyadh, Saudi Arabia to assess the impact of the new strain of coronavirus, more commonly known as NCoV-2019.Despite the wide range of contagion, the IMF disclosed that it will still stick to its January prediction of 3.3%, margin higher from its 2.9 % forecast in 2019.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...
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