Page-2 of Global Economy
IMF: Recession due to COVID-19 to be worse than 2009
On March 24, 2020, the International Monetary Fund announced that the recession to be caused due to Corona Virus is to be worse than the 2009. IMF has specifically warned the G20 nations that the current economic outlook is towards ..
Month: Current Affairs - March, 2020
In-Person G7 Summit Cancelled; To be held through Video-Conferencing
The US President Donald Trump has cancelled an in-person G7 Summit and is to conduct the summit through video conferencing. This is being done due to the increasing threat of Corona Virus. What is G7? The G7 organization is made ..
Month: Current Affairs - March, 2020
ADB announces $6.5 billion package for member countries to tackle COVID-19
Manila-based Asian Development Bank recently announced an initial package of $6.5 billion (equivalent to ₹48,230 crore) to cater the immediate needs of its developing member countries in fighting the Covid-19 pandemic. As per the announcement of the Development bank, out ..
S&P Global Ratings lowered India’s economic growth forecast to 5.2% for 2020
S&P Global Ratings lowered India’s economic growth forecast to 5.2 per cent for the year 2020. The rating agency had earlier predicted the growth rate of 5.7% for 2020. The agency also estimated that the Asia-Pacific economic growth in 2020 ..
UNCTAD: India among 15 countries economically affected due to Corona Virus
The United Nations Conference on Trade and Development recently released a report on the effect of COVID-19 on global economy. According to the report, India was ranked 10th. World: Key Findings of the Report The report says that the slow ..
Month: Current Affairs - March, 2020
Corona Virus: US Federal Reserve reduces interest rate to 0%
On February 16, 2020, the United States Reserve Bank announced that the key interest rates are to be slashed to 0% to 0.25%. This is being done in response to growing impact of Corona Virus. Highlights This is the second ..
Month: Current Affairs - March, 2020
G20 Meeting of Finance Ministers and Central Bank Governors held in Riyadh
The Meeting of Finance Ministers and Central Bank Governors from G20 nations was recently organised in Riyadh from February 22-23, 2020. The delegates from across the world attended the meeting, which focussed on maintaining the growth of global economy amid ..
Economist Intelligence Unit lowers 2020 growth forecast to 2.2%
The Economist Intelligence Unit has lowered its global growth forecast for 2020 to 2.2%, from its earlier estimate of 2.3%. The dip was due to the new risks that have emerged following the virus outbreak in China, which was recently ..
US unemployment falls to a 50-year low
The US Labor Department reports that the unemployment rate fell to 3.5% from 3.7%. The main reason behind the development is that the economy added 136,000 jobs in September 2019. On the other hand, the report claim that the manufacturing ..
Month: Current Affairs - October, 2019
Moody predicts the status of the Global Economies
One of the world’s leading financial conglomerates, the Moody corporation’s wing, the Moody’s Investor Services has released its predictions for the economies of the world. What does the report say about India? Moodys Investors Service has cut its growth projections ..