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A complete, successful implementation of the existing support measures is of paramount importance, said Vitor Gaspar, Director of IMF's Fiscal Affairs Department.
While regional growth is tipped to rebound to 6.6% next year, that won’t be enough to replace all of the output lost due to the crisis. Image is fine
IMF chief economist Gita Gopinath said that the cumulative loss for the world economy this year and next as a result of the recession is expected to reach $12.5 trillion.
The IMF's record reveals that this is the lowest for India since 1961. However, it said that India's economy is expected to bounce back in 2021 with 6% growth.
During the week ended 29 May, RBI data showed foreign currency assets, a major component of the overall reserves, increased by $3.50 billion to $455.21 billion
Qatar’s government revenue has yet to recover to a level it reached seven years ago, before the last oil crash, after slumping more than 30% in 2016.
The IMF said in the World Economic Outlook report on 14 April that global gross domestic product will decline 3% this year.
India’s chief economic advisor says fiscal deficit only area that needs to be looked at right now, adding the stimulus package will be announced soon.
The best cartoons of the day, chosen by the editors at ThePrint.
Addressing a meeting of the IMF & World Bank, Managing Director Kristalina Georgieva said the Covid-19 pandemic had struck the world economy that was already in a fragile state.