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Archive for the tag “IMF”

A Long, Uneven And Uncertain Ascent

The COVID-19 pandemic continues to spread with over 1 million lives tragically lost so far. Living with the novel coronavirus has been a challenge like no other, but the world is adapting. As a result of eased lockdowns and the rapid deployment of policy support at an unprecedented scale by central banks and governments around the world, the global economy is coming back from the depths of its collapse in the first half of this year… This crisis is however far from over.

Read Here | IMF Blog

Rethinking Global Resilience

COVID-19 has highlighted the pressing need for better global risk management. So too has escalating climate change. As did the financial crisis. Urgent reform is required to tame the butterfly defect of globalization. These networked threats require changes in all parts of the system.

Read Here | Finance & Development

The Long Economic Hangover Of Pandemics

The COVID-19 pandemic’s toll on economic activity in recent months is only the beginning of the story. While the rapid and unprecedented collapse of production, trade, and employment may be reversed as the pandemic eases, historical data suggest that long-term economic consequences could persist for a generation or more.

Read Here – Finance & Development

Reopening From The Great Lockdown: Uneven And Uncertain Recovery

The COVID-19 pandemic pushed economies into a Great Lockdown, which helped contain the virus and save lives, but also triggered the worst recession since the Great Depression. Over 75 percent of countries are now reopening at the same time as the pandemic is intensifying in many emerging market and developing economies. Several countries have started to recover. However, in the absence of a medical solution, the strength of the recovery is highly uncertain and the impact on sectors and countries uneven.

Read Here – IMF

The Great Lockdown Through A Global Lens

The Great Lockdown is expected to play out in three phases, first as countries enter the lockdown, then as they exit, and finally as they escape the lockdown when there is a medical solution to the pandemic. Many countries are now in the second phase, as they reopen, with early signs of recovery, but with risks of second waves of infections and re-imposition of lockdowns.

Read Here – IMF Blog

Will The IMF Pass The Pandemic Stress Test?

The novel coronavirus plunged emerging markets into crisis. As investors rushed to safety, major emerging economies lost more than $100 billion in foreign currency reserves in the month of March alone. Trade flows shrank. New capital inflows dried up. In many ways, the pandemic has been harder on emerging economies than the 2008 global financial crisis.

Read Here – Foreign Affairs

A Global Crisis Like No Other Needs A Global Response Like No Other

This is a “crisis like no other.” The outlook is dire. We expect global economic activity to decline on a scale we have not seen since the Great Depression. This year 170 countries will see income per capita go down—only months ago we were projecting 160 economies to register positive per capita income growth.

Read Here – IMF Blog

The Great Lockdown: Worst Economic Downturn Since The Great Depression

Under the assumption that the pandemic and required containment peaks in the second quarter for most countries in the world, and recedes in the second half of this year, in the April World Economic Outlook we project global growth in 2020 to fall to -3 percent. This is a downgrade of 6.3 percentage points from January 2020, a major revision over a very short period. This makes the Great Lockdown the worst recession since the Great Depression, and far worse than the Global Financial Crisis.

Read Here – IMF

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Iran Seeks IMF Help For First Time Since The Shah

Iran said it had asked the IMF for its first loan since the time of the Shah to combat a coronavirus outbreak that has claimed 429 lives and infected more than 10,000 people. Foreign Minister Mohammad Javad Zarif announced the request on Twitter, calling on the International Monetary Fund to “stand on the right side of history.”

Read Here – Asia Times

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