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