The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the ...
The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism.
Managing Director Kristalina Georgieva said the Fund was likely to revise downward its forecast for a 3per cent contraction in GDP in 2020, with only a partial recovery expected next year instead of the 5.8per cent rebound initially expected.In an interview with Reuters, she said data from around the world was worse than expected."Obviously that means it will take us much longer to have a full recovery from this crisis," she said in an interview.
Tensions between the United States and China have spiked in recent weeks, with officials on both sides suggesting a hard-won deal that defused a bitter 18-month trade war could be abandoned months after it was signed.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed's Powell says full economic recovery may require coronavirus vaccineWASHINGTON: Federal Reserve Chairman Jerome Powell said a US economic recovery may stretch deep into next year and a full comeback may depend on a ...
Read more »
Germany hopes to end global travel warning in June, but no return to normalGermany is hoping to replace a travel warning that is in place for all touristic trips abroad until June 15 with softer guidelines, Foreign ...
Read more »
US auto industry to begin reopening plants in recovery from pandemicThe U.S. auto industry is slowly returning to life, with vehicle assembly plants scheduled to reopen on Monday and suppliers gearing up in support ...
Read more »
Temporary layoff schemes no cure-all in slow COVID recoveryTemporary unemployment schemes operating across Europe could struggle to save the jobs of leisure and travel sector workers facing drawn-out or ...
Read more »
Temporary layoff schemes no cure-all in slow COVID-19 recoveryTemporary unemployment schemes operating across Europe could struggle to save the jobs of leisure and travel sector workers facing drawn-out or ...
Read more »
Coronavirus: No shortcuts and people must get used to a new way of living, warns WHO's chief scientistWhen countries open up, their basic principle must be to test people with symptoms, identify the contacts and quarantine them until they are free of the risk of getting the disease.. Read more at straitstimes.com.
Read more »