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Fiscal and monetary steps have helped cushion the world from an even uglier outcome, but the endgame can’t come until there’s a medical fix.(AP)

Global economic pain from coronavirus is far from over: IMF

By Bloomberg | Posted by Arpan Rai
PUBLISHED ON OCT 16, 2020 09:45 PM IST
The IMF forecast a 4.4% global contraction for this year, the deepest since the Great Depression but less than its prior estimate of 5.2% in June.
A street is crowded by shoppers in Tokyo. Japan’s economy is opening cautiously, with social-distancing restrictions amid the coronavirus pandemic.(AP)
A street is crowded by shoppers in Tokyo. Japan’s economy is opening cautiously, with social-distancing restrictions amid the coronavirus pandemic.(AP)

Covid-19: World economy that took elevator down faces steep stairs back up

By Bloomberg | Posted by Arpan Rai
PUBLISHED ON JUL 05, 2020 11:04 PM IST
Even with those rescue efforts, the world is still suffering its worst economic crisis since the Great Depression.
Amazon CEO Jeff Bezos and ex-wife MacKenzie Bezos.(Reuters File Photo)
Amazon CEO Jeff Bezos and ex-wife MacKenzie Bezos.(Reuters File Photo)

Jeff Bezos’s wealth soars to record $171.6 billion, ex-wife is 2nd richest woman

By Bloomberg | Posted by Kanishka Sarkar
UPDATED ON JUL 02, 2020 03:20 PM IST
Jeff Bezos’s gains -- $56.7 billion this year alone -- underscore a widening wealth gap in the US during the worst economic downturn since the Great Depression.
While ensuring social distancing, we need to stay connected in a meaningful manner and support each other in every way(Vipin Kumar/HT PHOTO)
While ensuring social distancing, we need to stay connected in a meaningful manner and support each other in every way(Vipin Kumar/HT PHOTO)

Pressing the reset button in times of the coronavirus pandemic, writes M Venkaiah Naidu

By M Venkaiah Naidu
UPDATED ON MAY 30, 2020 06:50 AM IST
We need to learn to live with the virus. We also need to learn from weaknesses, and remedy it
Secretary General of the United Nations Antonio Guterres.(Reuters file photo)
Secretary General of the United Nations Antonio Guterres.(Reuters file photo)

UN warns Covid-19 could trigger worst downturn in global economy since Great Depression

Washington | By Asian News International
UPDATED ON APR 18, 2020 09:33 AM IST
The Food and Agriculture Organization, the African Union and international partners have issued a joint declaration in which they support access to food and nutrition for the most vulnerable in Africa during the pandemic.
Kristalina Georgieva, managing director of the International Monetary Fund (IMF) said that coronavirus has disrupted the social and economic order at lightning speed and on a scale that has never been seen in living memory.(Bloomberg file photo)
Kristalina Georgieva, managing director of the International Monetary Fund (IMF) said that coronavirus has disrupted the social and economic order at lightning speed and on a scale that has never been seen in living memory.(Bloomberg file photo)

Amid Covid-19 pandemic, IMF anticipates sharply negative economic growth fallout since the Great Depression

Washington | By Press Trust of India
UPDATED ON APR 09, 2020 05:51 PM IST
The Great Depression was the worst worldwide economic downturn that lasted for 10 years from 1929, beginning in the US when the New York Stock Exchange on Wall Street crashed and wiped out millions of investors.
The coronavirus crisis provides the call to arms to reset our under-invested health care system(PTI)
The coronavirus crisis provides the call to arms to reset our under-invested health care system(PTI)

Use the Covid crisis to spur systemic changes

By Govind Sankaranarayanan
UPDATED ON MAR 19, 2020 05:56 PM IST
Liquidity measures, spike in health care funding, better governance, and multilateralism can help India tide over
Obama: The Call of History written by Peter Baker, the Chief White House Correspondent for The New York Times, chronicles a period of “great hope, tumult, accomplishments, and, yes, failure”.
Obama: The Call of History written by Peter Baker, the Chief White House Correspondent for The New York Times, chronicles a period of “great hope, tumult, accomplishments, and, yes, failure”.

New book gives in-depth account of Barack Obama’s years in office

Press Trust of India | By Press Trust of India, New Delhi
UPDATED ON AUG 29, 2019 01:15 PM IST
The book tells the story of a young president who “took on the worst financial disaster since the Great Depression, forged a controversial health care program, watched anxiously in the Situation Room after approving the raid that killed Osama Bin Laden and endured mid-term election defeats.”
Traders work on the floor at the opening bell of the Dow Industrial Average at the New York Stock Exchange on August 22, 2018 in New York(AFP)
Traders work on the floor at the opening bell of the Dow Industrial Average at the New York Stock Exchange on August 22, 2018 in New York(AFP)

The 2008 financial crisis is not over yet

Hindustan Times | By HT Correspondent
UPDATED ON SEP 13, 2018 06:24 PM IST
There is undoubtedly a lot of truth in the claim made by this kind of politics that globalisation has created more losers than winners even in advanced countries. But there are other aspects to this kind of politics which can fan retrograde beliefs and practices both in the social and economic realm.
President Donald Trump’s tariffs on steel and aluminum imports hammered lawn-equipment manufacturer Brinly-Hardy Co. of Indiana.(AFP Photo)
President Donald Trump’s tariffs on steel and aluminum imports hammered lawn-equipment manufacturer Brinly-Hardy Co. of Indiana.(AFP Photo)

The great depression didn’t kill this firm, Trump’s tariffs might

By Bloomberg
UPDATED ON JUL 25, 2018 01:59 PM IST
Brinly-Hardy, which makes residential and commercial lawn and turf equipment for Home Depot Inc. and other stores, saw its raw material costs jump by as much as 37 percent because of Trump’s metal tariffs imposed in March.
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