global economy

IMF: global economy recovering from pandemic

International Monetary Fund’s steering committee on Thursday said the global economy is recovering faster than expected from the COVID-19 crisis, but warned that a spike in interest rates could be especially painful for emerging …

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IMF upgrades global growth outlook again

The International Monetary Fund raised its outlook for global economic growth again on Tuesday, forecasting worldwide output would rise 6% this year, a rate unseen since the 1970s, thanks largely to the unprecedented policy responses to the …

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IMF to boost global outlook again

The International Monetary Fund will raise its forecast for global economic growth in 2021 and 2022 after last year’s 3.5% contraction, but financial conditions remain highly uncertain, IMF Managing Director Kristalina Georgieva said . …

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UN: pandemic threatens lost decade for development

The COVID-19 pandemic has reversed development gains for millions in poor countries, creating an even more sharply unequal world, according to a new UN report. "The global economy has experienced he worst recession in 90 years, …

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World Bank sees subdued recovery in 2021

The global economy will experience a subdued recovery this year from the devastating pandemic, the World Bank predicted, but it warned that the near-term outlook is highly uncertain and growth could be imperiled if coronavirus infections and …

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ADB: virus' economic impact could hit $8.8 trillion

Global economic losses from the coronavirus pandemic could reach up to 8.8 trillion dollars, or nearly 10% of the world economy's output, the Asian Development Bank (ADB) said. The Manila-based bank said the forecast for …

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S&P forecasts 2.4% drop in global GDP 

Credit rating agency S&P Global slashed its global forecasts, predicting coronavirus lockdowns would now see the world economy contract 2.4% this year and cause the United States and euro zone to slump 5.2% and 7.3% respectively. …

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World’s richest shed more than $78 billion

As the Dow Jones suffered its worst decline since 1987 and coronavirus fears caused markets to slide around the globe, the world’s twenty richest people lost just over $78 billion combined in a single day, …

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Coronavirus could cost world $1 trillion

Oxford Economics analysts believes the novel coronavirus turning pandemic could wipe out $1.1 trillion from the world economy. That would be the economic price tag for a spike in workplace absenteeism, lower productivity, sliding …

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Global economy continues to cool

The world economic climate deteriorated to the lowest level of 2009. According to the survey conducted among 1230 experts from 117 countries by the Munich-based Ifo Institute for Economic Research, the world economic climate has …

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Brent oil price exceeds $61

Oil prices slipped this morning amid persistent concerns about a weak demand outlook, after posting sharp gains in the previous session following a surprise crude inventory drawdown in the United States. Brent crude futures fell 17 …

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