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world economy

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Navigating the recovery from here will require careful choices by policy makers, especially central banks, Kristalina Georgieva warned.(REUTERS)

World economy in crisis due to vaccine gap amongst nations, IMF Chief warns

Bloomberg | | Posted by Shanza Khan
PUBLISHED ON JUL 28, 2021 08:06 PM IST
The International Monetary Fund (IMF) has warned that unequal access to vaccinations is expanding the recovery gap between advanced and developing economies.
Economic shocks like the coronavirus pandemic of 2020 only arrive once every few generations, and they bring about permanent and far-reaching change(AP)
Economic shocks like the coronavirus pandemic of 2020 only arrive once every few generations, and they bring about permanent and far-reaching change(AP)

10 ways Covid-19 has changed the world economy forever

By Bloomberg | Posted by Ayshee Bhaduri
UPDATED ON DEC 30, 2020 10:10 AM IST
The takeover of factory and service jobs by robots will advance, while white-collar workers get to stay home more. There’ll be more inequality between and within countries. Governments will play a larger role in the lives of citizens, spending, and owing, more money.
The first step towards resetting your finances has to be maintaining a tight leash on your expenses. (Shutterstock)
The first step towards resetting your finances has to be maintaining a tight leash on your expenses. (Shutterstock)

Reset, refresh, rejuvenate: How approaches to financial planning need to change post-pandemic

Hindustan Times, New Delhi | By hindustantimes.com
UPDATED ON DEC 22, 2020 04:53 PM IST
The economic fallout has caused a seismic shift in the attitude towards money. Job losses, salary cuts, and shutdown in businesses have upended lives for many.
Since the pandemic began, IMF has committed over USD 100 billion , says IMF MD(REUTERS)
Since the pandemic began, IMF has committed over USD 100 billion , says IMF MD(REUTERS)

World facing new Bretton Woods moment: IMF MD

Washington | By Press Trust of India| Posted by Ayshee Bhaduri
UPDATED ON OCT 15, 2020 05:07 PM IST
What was true at Bretton Woods, where allies at the end of World War II gathered to create the institutions that would use economic cooperation to prevent future conflicts, remains true today.
Given their heavy debt burdens, they are now struggling to maintain vital policy support. They need access to more grants, concessional credit, and debt relief, the IMF chief said.(AP)
Given their heavy debt burdens, they are now struggling to maintain vital policy support. They need access to more grants, concessional credit, and debt relief, the IMF chief said.(AP)

IMF recommends three policy priorities to overcome Covid-19 crisis

Washington | By Press Trust of India| Posted by Susmita Pakrasi
UPDATED ON OCT 14, 2020 08:14 PM IST
Releasing Global Policy Agenda at the start of the annual meetings of the International Monetary Fund (IMF) and the World Bank, Georgieva said three measures are needed to overcome the crisis and build a brighter future.
Prime Minister (PM) Narendra Modi has given a clarion call to achieve Atmanirbhar Bharat. This will need a greater focus on the development of indigenous technologies and encouragement to grassroots-level innovation. This is the opportune time to build strong connectivity among government, academia and industry.(ANI)
Prime Minister (PM) Narendra Modi has given a clarion call to achieve Atmanirbhar Bharat. This will need a greater focus on the development of indigenous technologies and encouragement to grassroots-level innovation. This is the opportune time to build strong connectivity among government, academia and industry.(ANI)

A new science, tech innovation policy

By Harsh Vardhan
PUBLISHED ON OCT 07, 2020 09:45 AM IST
It seeks to protect the diversity of innovation, harness entrepreneurial potential, steer change
External Affairs Minister Dr S Jaishankar.(ANI)
External Affairs Minister Dr S Jaishankar.(ANI)

Covid-19 highlighted importance of diversification and resilience of supply chains, says Jaishankar

Hindustan Times, New Delhi | By HT Correspondent
PUBLISHED ON AUG 20, 2020 02:02 PM IST
The Covid-19 crisis has shown up the lack of multilateralism at a time when it “was most in demand”
People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, US on June 18, 2020.(Reuters File Photo)
People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, US on June 18, 2020.(Reuters File Photo)

Global growth potential tumbles as unemployment spikes, says Fitch

By Bloomberg | Posted by Kanishka Sarkar
UPDATED ON JUL 28, 2020 10:34 AM IST
The world economy entered the second half of 2020 still deeply weighed down by the pandemic. The coronavirus recession is expected to still see GDP levels in the largest advanced economies remain around 3% to 4% below their pre-virus trend path by the middle of this decade, Fitch said.
Bitcoin has enjoyed above-average flows this year, and those flows are relatively high versus their five-year average.(Reuters File Photo)
Bitcoin has enjoyed above-average flows this year, and those flows are relatively high versus their five-year average.(Reuters File Photo)

Bitcoin jumps above $10,000 for the first time in six weeks

By Bloomberg | Posted by Kanishka Sarkar
UPDATED ON JUL 27, 2020 07:42 AM IST
Bitcoin, which crypto fans have often touted as “digital gold,” is in favour as the yellow metal nears record levels, concerns rise about the health of the world economy and the dollar falls.
The Indian community in Australia is comprised of nearly seven lakh people.(REUTERS)
The Indian community in Australia is comprised of nearly seven lakh people.(REUTERS)

Australia’s migration intake to fall by over 2 lakh due to Covid-19; Indians affected

Melbourne | By Press Trust of India| Posted by Susmita Pakrasi
PUBLISHED ON JUL 26, 2020 06:59 PM IST
While the effects of the Covid-19 pandemic on the Australian economy are still evolving, migration, which is a key driver of the economy, has been hit following the travel bans, border closures imposed earlier this year since the contagion began.
It is the first major world economy to show growth following the impact of the pandemic.(AFP)
It is the first major world economy to show growth following the impact of the pandemic.(AFP)

Chinese economy bounces to 3.2% growth in second quarter after shrinking in first

Hindustan Times, Beijing | By Sutirtho Patranobis| Posted by Susmita Pakrasi
UPDATED ON JUL 16, 2020 09:30 PM IST
The Chinese economy was also the first major economy to gradually reopen after bringing the outbreak under control even as it rages worldwide.
Hong Kong on Monday announced sweeping new curbs as the city suffers a relapse.(AP)
Hong Kong on Monday announced sweeping new curbs as the city suffers a relapse.(AP)

Asian markets hit by new lockdowns, fresh China-US tensions

Hong Kong | By Agence France-Presse| Posted by Susmita Pakrasi
PUBLISHED ON JUL 14, 2020 02:19 PM IST
After hitting lows in March, markets have been surging thanks to government support and optimism that the world economy will bounce back as crippling lockdowns are eased.
According to a report by Prop Equity, Noida in the national capital region market bucked the trend to register 5 per cent growth in housing sales volume.(HT File Photo)
According to a report by Prop Equity, Noida in the national capital region market bucked the trend to register 5 per cent growth in housing sales volume.(HT File Photo)

Housing sales down 67% in Apr-Jun in 9 cities due to Covid-19: Report

New Delhi | By Press Trust of India | Posted by Anubha Rohatgi
UPDATED ON JUL 10, 2020 02:36 PM IST
New launches fell 78 per cent to 11,967 units, while unsold inventories were down 5 per cent to 6,07,665 units during the period under review.
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.
The hope is the waves of stimulus doled out by governments and central banks should eventually buoy economies and spark a revival in hiring. (Representational Image)(Unsplash)
The hope is the waves of stimulus doled out by governments and central banks should eventually buoy economies and spark a revival in hiring. (Representational Image)(Unsplash)

Covid-19: Millions of jobs could be permanently lost in reallocation shock

By Bloomberg | Posted by Saumya Sharma
UPDATED ON JUN 16, 2020 02:16 PM IST
Lost jobs don’t come back and unemployment stays elevated. That would force workers to retrain or relocate, both of which are hard, and governments to do more than just try to spend their way out of trouble.
Piyush Goyal says the revival of global trade, severely impacted by Covid-19, will take some time
Piyush Goyal says the revival of global trade, severely impacted by Covid-19, will take some time

‘Too early to predict Covid impact on railways’, says Piyush Goyal

Hindustan Times, New Delhi | By HT Correspondent, New Delhi
UPDATED ON JUN 05, 2020 03:54 AM IST
Piyush Goyal said we gave a lot of thrust to agriculture. PM Kisan was expanded to cover all farmers. Another Rs 1 lakh crore for farm gate infrastructure was announced.
A combine harvester in a wheat field in Jalandhar, Punjab, during the lockdown on April 17, 2020.(Pardeep Pandit/Hindustan Times)
A combine harvester in a wheat field in Jalandhar, Punjab, during the lockdown on April 17, 2020.(Pardeep Pandit/Hindustan Times)

Lockdown Diaries: Punjab; standing between hunger and India by Amandeep Sandhu

Hindustan Times | By Amandeep Sandhu
UPDATED ON APR 22, 2020 04:44 PM IST
The nation needs to build efficient medical systems and value the farmer who provides food security
Global contraction of coronavirus in the first of 2020 is inevitable , IMF MD Kristalina Georgieva said.(REUTERS)
Global contraction of coronavirus in the first of 2020 is inevitable , IMF MD Kristalina Georgieva said.(REUTERS)

Covid-19: A large global contraction in the first half of 2020 inevitable, says IMF

Washington | By Press Trust of India
UPDATED ON APR 18, 2020 06:47 AM IST
IMF Managing Director Kristalina Georgieva said a severe economic impact in the first half of 2020 is inevitable and the pandemic encounters weak public health systems.
IMF managing director Kristalina Georgieva is describing the situation as “a crisis like no other.”(REUTERS)
IMF managing director Kristalina Georgieva is describing the situation as “a crisis like no other.”(REUTERS)

IMF leader says coronavirus is ‘crisis like no other’

Geneva | By Associated Press
UPDATED ON APR 04, 2020 12:46 PM IST
The IMF leader is calling on countries to prioritize health expenditures and to make sure doctors, nurses and other health workers are paid.
Near empty view of Jama Masjid in Delhi on day 6 of the 21-day nationwide lockdown to curb the spread of coronavirus.(Sushil Kumar/HT PHOTO)
Near empty view of Jama Masjid in Delhi on day 6 of the 21-day nationwide lockdown to curb the spread of coronavirus.(Sushil Kumar/HT PHOTO)

Coronavirus update- India, China possible exceptions as world economy stares at recession: UN

United Nations | By Press Trust of India
UPDATED ON MAR 31, 2020 12:19 PM IST
Covid-19 update:The report, however, did not give a detailed explanation as to why and how India and China will be the exceptions as the world faces a recession and loss in global income that will impact developing countries.
In the global market, gold was quoting with gains at USD 1,539 per ounce, while silver was trading flat at USD 15.65 per ounce.
In the global market, gold was quoting with gains at USD 1,539 per ounce, while silver was trading flat at USD 15.65 per ounce.

Gold prices rally Rs 455 on rupee depreciation, global cues

New Delhi | By Press Trust of India
UPDATED ON MAR 16, 2020 04:12 PM IST
In the previous trade, the precious metal had closed at Rs 41,155 per 10 gram. Silver prices, however, dropped by Rs 1,283 to Rs 40,304 per kg from Rs 41,587 per kg in the previous trade.
Last week, UNCTAD had said that the trade impact of the coronavirus epidemic for India is estimated to be about USD 348 million(AFP)
Last week, UNCTAD had said that the trade impact of the coronavirus epidemic for India is estimated to be about USD 348 million(AFP)

Coronavirus outbreak could cost global economy up to USD 2 trillion: UNCTAD

United Nations | By Press Trust of India
UPDATED ON MAR 10, 2020 07:21 PM IST
The UN agency said that apart from the tragic human consequences of the COVID-19 epidemic, the economic uncertainty it has sparked will likely cost the global economy USD 1 trillion in 2020.
A health worker wearing a mask walks during a prevention routine in case of a coronavirus emergency, at the Bus Terminal of La Paz, Bolivia on March 4, 2020.(Reuters File Photo)
A health worker wearing a mask walks during a prevention routine in case of a coronavirus emergency, at the Bus Terminal of La Paz, Bolivia on March 4, 2020.(Reuters File Photo)

Coronavirus: Global economy is gripped by rare twin supply-demand shock

Bloomberg | By Christopher Anstey and Enda Curran
UPDATED ON MAR 05, 2020 07:14 AM IST
The supply-cum-demand blows explain why the world economy is sliding toward its weakest expansion since the 2009 recession, with policy makers’ inflation targets becoming all the more unreachable.
A worker in protective suit disinfects a factory before it resumes operation.(REUTERS)
A worker in protective suit disinfects a factory before it resumes operation.(REUTERS)

China’s factory activity posts record contraction as coronavirus bites

Beijing | By Agence France-Presse
PUBLISHED ON FEB 29, 2020 07:52 AM IST
The announcement comes as the epidemic has rapidly spread to a growing number of countries.
Kristalina Georgieva, managing director of the International Monetary Fund (IMF)(Bloomberg photo)
Kristalina Georgieva, managing director of the International Monetary Fund (IMF)(Bloomberg photo)

Growth slowdown in India temporary, says IMF chief

Davos | By Press Trust of India
UPDATED ON JAN 24, 2020 04:58 PM IST
Speaking here at the WEF 2020, she also said the world appears a better place in January 2020 compared to what it was when IMF announced its World Economic Outlook in October 2019.
IMF Managing Director Kristalina Georgieva speaks at a news conference ahead of the World Economic Forum (WEF) in Davos, Switzerland January 20, 2020.(REUTERS)
IMF Managing Director Kristalina Georgieva speaks at a news conference ahead of the World Economic Forum (WEF) in Davos, Switzerland January 20, 2020.(REUTERS)

IMF puts ‘lion’s share’ of blame on India for lower global growth projections

Hindustan Times, Washington | By Yashwant Raj
UPDATED ON JAN 20, 2020 09:52 PM IST
The world economy will grow at 2.9%, 3.3% and 3.4% 0 in 2019, 2020 and 2022 respectively, according to the Fund’s January update of the World Economic Outlook.
Donald Trump said Friday he has not agreed to roll back tariffs on Chinese imports(REUTERS)
Donald Trump said Friday he has not agreed to roll back tariffs on Chinese imports(REUTERS)

No agreement on China tariff rollback: Donald Trump

Washington | By Agence France-Presse
UPDATED ON NOV 09, 2019 06:57 AM IST
Amid a steady stream of conflicting reports, Trump’s remarks appeared to push back against Beijing’s claims that the two sides had agreed to remove tariffs in stages as part of a partial deal announced last month.
A crisis is the time for opportunities. Do not miss them.(istock)
A crisis is the time for opportunities. Do not miss them.(istock)

Three guidelines on behaviour during a crisis

UPDATED ON NOV 12, 2019 04:26 PM IST
In 2008, after the stock market collapsed, some people lost their money, others made millions. One should be ready to face crisis and turn it into opportunity.
Kristalina Georgieva said it is a crisis where no one is immune and everyone has a responsibility to act.(Bloomberg)
Kristalina Georgieva said it is a crisis where no one is immune and everyone has a responsibility to act.(Bloomberg)

New IMF chief says global economy suffering ‘synchronized slowdown’

Washington | By Agence France-Presse
UPDATED ON OCT 08, 2019 09:53 PM IST
Grinding trade disputes are undermining the global economy, which is set to see its slowest growth in nearly a decade, the new IMF chief said Tuesday.
The world economy is at a crossroads with many countries adopting protectionism while looking to deepen globalization, Singapore’s deputy prime minister, Heng Swee Keat, said
The world economy is at a crossroads with many countries adopting protectionism while looking to deepen globalization, Singapore’s deputy prime minister, Heng Swee Keat, said

World economy at crossroads: Singapore deputy PM

Hindustan Times, New Delhi | By Shreya Nandi
PUBLISHED ON OCT 04, 2019 03:16 AM IST
Heng Swee Keat highlighted three global trends and challenges—the retreat from globalization in some parts of the world, rapid technological change, and growing inequality.
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