IMF: Recession due to COVID-19 to be worse than 2009

On March 24, 2020, the International Monetary Fund announced that the recession to be caused due to Corona Virus is to be worse than the 2009. IMF has specifically warned the G20 nations that the current economic outlook is towards negative. The G20 nations are to hold a virtual summit in a week to come ..

Month: Current Affairs - March, 2020

Category: International Current Affairs

Topics: 2008 financial crisis • Corona virus • COVID-19 • Economic growth • Global Economy • IMF • Investments

S&P Global Ratings lowered India’s economic growth forecast to 5.2% for 2020

S&P Global Ratings lowered India’s economic growth forecast to 5.2 per cent for the year 2020. The rating agency had earlier predicted the growth rate of 5.7% for 2020. The agency also estimated that the Asia-Pacific economic growth in 2020 will dip to less than 3 per cent. It also revealed that saying the global economy is ..

Topics: Economic growth • Global Economy • Indian Economy

Corona Virus: US Federal Reserve reduces interest rate to 0%

On February 16, 2020, the United States Reserve Bank announced that the key interest rates are to be slashed to 0% to 0.25%. This is being done in response to growing impact of Corona Virus. Highlights This is the second emergency cut by the reserve bank in less than two weeks. Similar rate cuts were ..

Month: Current Affairs - March, 2020

Category: International Current Affairs

Topics: Corona virus • COVID-19 • Economic growth • GDP • Global Economy • Global Economy Watch • Organization of the Petroleum Exporting Countries (OPEC)

UNCTAD: FDI inflows are to drop by 15% due to Corona Virus

The United Nations Conference on Trade, Investment and Development has warned that the Foreign Direct Investment flows all over the world will reduce by 15% due to Corona Virus. According to the organization, the outbreak could cost 2 trillion USD to the global economy. Highlights The United Nations earlier pointed out that the growth of ..

Month: Current Affairs - March, 2020

Category: Economy & Banking Current Affairs

Topics: Corona virus • COVID-19 • Economic growth • FDI • FDI Policy • Foreign Direct Investment (FDI) • UNCTAD • United Nations

Corona Virus hits Diamond Industry of Surat greatly

Workers in Diamond Industry of India, especially in the parts of Surat have been facing job losses and pay cuts as Corona Virus has hit exports to China. China is the biggest market of precious stones and since February China is terribly affected with Corona Virus. Highlights There are more than 15,000 big and small ..

Month: Current Affairs - March, 2020

Category: Economy & Banking Current Affairs

Topics: Corona virus • COVID-19 • Economic growth • exports • GDP • Gold