Coronavirus impact: India and China may escape global recession, says UN

With two-thirds of the world's population living in developing countries facing unprecedented economic damage from the Covid-19 crisis, the UN is calling for a $2.5 trillion a rescue package

The world economy will go into recession this year with a predicted loss of trillions of dollars of income due to the coronavirus pandemic, spelling serious trouble for developing countries with the likely exception of India and China, according to a latest UN trade report.
 

With two-thirds of the world's population living in developing countries facing unprecedented economic damage from the Covid-19 crisis, the UN is calling for a $2.5 trillion rescue package for these nations.
 

According to the new analysis from United Nations Conference on Trade and Development (UNCTAD), the UN trade and development body titled 'The Covid-19 Shock to Developing Countries: Towards a 'whatever it takes' programme for the two-thirds of the world's population being left behind', commodity-rich exporting countries will face a $2 trillion to $3 trillion drop in investments from overseas in the next two years.

The UNCTAD said that in recent days, advanced economies and China have put together massive government packages which, according to the G20 leading economies, will extend a $5 trillion lifelines to their economies.

Delhi CM: 1,500 evacuated, 441 hospitalised
 

Delhi CM Arvind Kejriwal on Tuesday said 1,548 people have been evacuated from Nizamudddin markaz of which, 441 were hospitalised after they showed virus symptoms. He slammed the organisers, saying it was "highly irresponsible" on their part to hold such an event.
 

Not the time to find fault, says Health Min
 

The health ministry on Tuesday said it was not the time to find faults and emphasised on implementing containment strategies amid apprehe-nsions of substantial spread of Covid-19. 
 

2.1k foreigners came to Delhi for Tablighi
 

The government on Tuesday said 2,100 foreigners visited India for Tablighi activities since January 1 and all of them first reported at Tablighi Jammat’s headquarters in Nizamuddin, which has apparently become a coronavirus hotspot. The home ministry also said 303 Tablighi activists had symptoms of Covid-19.