April 28, 2020/IMF The IMF approved US$3.4 billion in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices. The COVID-19 outbreak has magnified existing vulnerabilities, leading to a historic […]
World News
World Bank Says Global Remittance to Drop 20% in 2020 on Economic Crisis Induced by COVID-19
April 23, 2020/World Bank Global remittances are projected to decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic and shutdown. The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages […]
Unparalleled Global Recession Underway-Fitch
April 23, 2020/Fitch Ratings Fitch Ratings has made further large cuts to global GDP forecasts in its latest Global Economic Outlook (GEO) in response to coronavirus-related lockdown extensions and incoming data flows. “World GDP is now expected to fall by 3.9% in 2020, a recession of unprecedented depth in the […]
