IMF predicts bigger economic crisis than Great Depression : Bulletin: Business Today
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IMF predicts bigger economic crisis than Great Depression

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April 10, 2020

Coronavirus fallout: IMF predicts bigger economic crisis than Great Depression

The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Observing that the world is faced with extraordinary uncertainty about the depth and duration of this crisis, she said that it is already clear, however, that global growth will turn sharply negative in 2020.

Israeli PM Benjamin Netanyahu thanks PM Modi for Hydroxychloroquine export

Israeli Prime Minister Benjamin Netanyahu has thanked PM Narendra Modi for the export of anti-malarial drug hydroxychloroquine (HCQ) to Israel, touted to help in the treatment of coronavirus patients. India sent a five-tonne cargo of medicines, including anti-malarial drug hydroxychloroquine to Israel to contain coronavirus pandemic. According to worldometer, Israel has reported a total of 9,968 coronavirus cases and 86 deaths, as of April 10, 8.00 am.

COVID-19 may push half million people into poverty, says Oxfam

The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on Thursday. "The estimates show that, regardless of the scenario, global poverty could increase for the first time since 1990," it said, adding that this could throw some countries back to poverty levels last seen some three decades ago.

Read: India Coronavirus live updates: 614 active cases, 33 new deaths in 24 hours; country's tally at 5,709

UK PM Johnson leaves intensive care, remains under observation

Prime Minister Boris Johnson left intensive care on Thursday evening as he continues to recover from COVID-19, but he remains under close observation in hospital. He was admitted to St Thomas' Hospital on Sunday evening with a persistent high temperature and cough, and was rushed to intensive care on Monday where he spent three nights receiving treatment.

Uday Kotak opts to forgo salary, to receive one rupee for FY 2020-21

Kotak Mahindra Bank's leadership team has decided to take a 15% pay cut for the financial year. Its MD and CEO Uday Kotak has chosen to forego his salary and will receive one rupee as compensation for FY 2020-21. The bank and Kotak together have donated Rs 60 crore towards relief efforts being undertaken for coronavirus.

Coronavirus: Delhi govt plans buffer zones around containment areas

The Delhi government is planning to create buffer zones in the national capital around areas with a cluster of coronavirus cases. The government has also started house to house screening in all the hotspot areas which were sealed on Wednesday. The government will soon begin random screenings in Delhi and would also monitor any coronavirus symptoms in the general public.

Also Read: Coronavirus: ICMR urges containment action in 36 districts, hints community transmission


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