Global Economy Current Affairs, GK & News

G7 summit postponed; To be expanded as G10 or G11

The US President Donald Trump recently announced that the USA is postponing the G7 summit to September 2020. Also, President Trump intends to expand the G7 group to G10 or G11. On June 2, 2020, US  President Trump invited Indian PM Modi to the G7 summit through telephonic conversation. The Leaders discussed India-China recent Stand ..

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International Monetary Fund predicts India’s Growth Rate at 1.9%

Following the World that set India’s Growth rate between 1.5% and 2.8%, the International Monetary Fund has set growth rate of India at 1.9%. On April 14, 2020, the IMF released its report predicting growth rate of the country at 5.8%. Highlights IMF also says that the India will recover at the growth rate of ..

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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 ..

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In-Person G7 Summit Cancelled; To be held through Video-Conferencing

The US President Donald Trump has cancelled an in-person G7 Summit and is to conduct the summit through video conferencing. This is being done due to the increasing threat of Corona Virus. What is G7? The G7 organization is made up of the largest economies of the world namely France, Canada, US, UK, Italy, Japan ..

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ADB announces $6.5 billion package for member countries to tackle COVID-19

Manila-based Asian Development Bank recently announced an initial package of $6.5 billion (equivalent to ₹48,230 crore) to cater the immediate needs of its developing member countries in fighting the Covid-19 pandemic. As per the announcement of the Development bank, out of the total package, $3.6 billion will be made available to governments for addressing health ..

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