TOKYO (REUTERS) - Asia's economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an 'unprecedented' toll on the region's service sector and major export destinations, the International Monetary Fund said on Thursday (April 16).. Read more at straitstimes.com.
TOKYO - Asia's economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an"unprecedented" toll on the region's service sector and major export destinations, the International Monetary Fund said on Thursday .
"This is not a time for business as usual. Asian countries need to use all policy instruments in their toolkits." The IMF expects a 7.6 per cent expansion in Asian economic growth next year on the assumption that containment policies succeed, but added the outlook was highly uncertain. China's economy is expected to grow by 1.2 per cent this year, down from 6 per cent growth in the IMF's January forecast, on weak exports and losses in domestic activity due to social distancing steps.
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.
Asia shares jump on Chinese trade data, pandemic still a worryAsian stocks were set for a modest bounce on Tuesday as U.S. stock futures edged higher, although fears the coronavirus could drag on the global ...
Read more »
COVID-19 pandemic to bring Asia's 2020 growth to halt for 1st time in 60 years: IMFTOKYO: Asia's economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an 'unprecedented' ...
Read more »
Asia shares consolidate, China cuts another interest rateAsian shares paused at one-month highs on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage ...
Read more »
Asia shares given pause by scale of global economic damageAsian shares paused at one-month highs on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage ...
Read more »
Saudi Arabia cutting oil prices to Asia shows supply war isn’t overNEW YORK (BLOOMBERG) - Saudi Arabia and other Gulf suppliers may have agreed to cut oil production again starting next month, but by all indications the taps are set to remain wide open until then - swelling stockpiles for at least a few more weeks.. Read more at straitstimes.com.
Read more »
Asia markets higher as China trade data beats forecastsAsian markets posted gains on Tuesday as better than expected Chinese trade data suggested a rebound from the economic devastation wrought by the ...
Read more »