COVID-19 pandemic worse than 2008-09 financial crisis: IMF
4 years, 8 months ago

COVID-19 pandemic worse than 2008-09 financial crisis: IMF

The Hindu  

The contraction in the global economy is much worse than the 2008-09 financial crisis, a top IMF official said on April 15, urging the governments to take swift concerted action with fiscal tools taking a prime role to contain the COVID-19 spread and limit the damage to livelihoods. As such, there is no doubt that the government needs to take swift concerted action with fiscal tools taking a prime role to contain the virus’ spread and limit the damage to livelihoods of people,” Mr. Gasper said. Global coordination is necessary to support countries with limited health capacity, including by providing medical supplies and expertise, grants, and concessional emergency financing, and to develop universally low-cost vaccines and medicine, he said. “Another key message is that this is a global crisis and comprehensive and coordinated action is necessary, including to support countries with limited health capacity and financing constraints through grants, concessional loans, and medical aid, as well as to develop a universally low-cost vaccine,” he said.

History of this topic

Five years since covid: how the pandemic changed the world
2 weeks, 1 day ago
How raising the nation’s debt limit could reduce spending of some coronavirus relief funds
1 year, 7 months ago
Opinion: ‘Unprecedented by most measures’: Calculating the astonishing economic costs of COVID
1 year, 7 months ago
China Covid toll concern for world given size of its GDP, economy: US State dep
2 years ago
Helping enterprises pull through the pandemic
2 years, 1 month ago
Helping enterprises pull through the pandemic
2 years, 1 month ago
The pandemic economy will outlast the outbreak of covid
2 years, 3 months ago
Economy may take more than a decade to overcome COVID-19 losses: RBI report
2 years, 8 months ago
China economy starts the year with a wobble
2 years, 11 months ago
'No time to spare': WHO says Covid disrupted health services, pushed half a billion into poverty
3 years ago
IMF urges governments to make fiscal plans to tame pandemic debt
3 years, 3 months ago
Pandemic has affected poor more: RBI Governor Shaktikanta Das
3 years, 3 months ago
As rich-poor divide widens between nations, UN urges reform
3 years, 3 months ago
Fiscal metrics to stay weak on COVID: S&P
3 years, 8 months ago
Covid-19 continues to disrupt essential health services: WHO
3 years, 8 months ago
Covid-19 Pandemic Leaving Behind Complex Legacies That Will Need to Be Tackled: IMF Official
3 years, 9 months ago
Most Economies Not to Return to Pre-pandemic Activity Levels Until 2022: Moody's
3 years, 9 months ago
Long or short Covid? The true state of the UK economy
3 years, 10 months ago
UK economy just had its worst year in three centuries
3 years, 10 months ago
Budget 2021 will be starting point for economic recovery after COVID-19 pandemic, say experts
3 years, 11 months ago
Coronavirus pandemic severe, but ‘not necessarily the big one’: WHO
4 years ago
Covid, pandemic and lockdown: How 2020 changed the world
4 years ago
All You Need to Know About Managing Funds During Covid-19 Pandemic
4 years ago
A pandemic atlas: USA by the numbers, telling and horrifying
4 years ago
Covid-19 to Cost $11.5 Trillion to Global Economy, Countries to Lose $5 Trillion in GDP: Study
4 years, 1 month ago
Economic impact of coronavirus will hit next year, experts say
4 years, 1 month ago
Global economic bailout is running at $19.5 trillion. It will go higher
4 years, 1 month ago
A Lost Decade: Decoding the cost of Covid-19 pandemic
4 years, 2 months ago
Government borrowing has hit £208billion in six months of coronavirus crisis
4 years, 2 months ago
Government borrows more than a billion pounds PER DAY during coronavirus crisis
4 years, 2 months ago
World experiencing one of the deepest recessions since Great Depression due to COVID-19: World Bank
4 years, 2 months ago
World experiencing one of the deepest recessions due to COVID-19: World Bank
4 years, 2 months ago
IMF Recommends Three Policy Priorities to Overcome Covid-19 Crisis Worldwide
4 years, 2 months ago
Analysis: The US and Europe face rising Covid-19 case numbers as they squander lessons from Asia-Pacific
4 years, 2 months ago
Downturn from pandemic offers path to green, climate resilient economies: IMF
4 years, 3 months ago
Government braces for massive deficit as tax cuts, spending set to be outlined in coronavirus Budget
4 years, 3 months ago
Federal Budget 2020 reveals Australia headed to record debt of almost $1 trillion
4 years, 3 months ago
The impact of Covid-19 on state economies
4 years, 3 months ago
Nearly Two-Thirds Of U.S. Households Struck By COVID-19 Face Financial Trouble
4 years, 3 months ago
Getting COVID-19 Is Putting Americans On The Brink Of Economic Crisis
4 years, 3 months ago
Covid-19 straining India’s health infra, delaying economic recovery
4 years, 3 months ago
COVID-19 could fuel more conflict, poverty, starvation, says UN
4 years, 4 months ago
World economy: What else could go wrong before 2020 is done
4 years, 4 months ago
Opinion: Covid-19 has scarred the global economy, but it’s not too late to change course
4 years, 4 months ago
Ministers don’t need to make cuts or up taxes to pay for Covid crisis: economists
4 years, 4 months ago
Australian recession confirmed as COVID-19 triggers biggest economic plunge on record
4 years, 4 months ago
Difficult to Accurately Assess Economic Impact of Covid-19 Due to Evolving Dynamics: RBI
4 years, 4 months ago
Difficult to accurately assess economic impact of Covid-19, says RBI
4 years, 4 months ago
After the Virus: Japan’s Painful Economic Recovery
4 years, 5 months ago
Too many countries heading in wrong direction; COVID-19 getting 'worse and worse': WHO warns
4 years, 5 months ago

Discover Related