Page 6 - Global Economic Crisis

WEF 2022: Three ways to fix global trade and drive economic recovery

External pressures and shocks have exposed the fragility of international supply chains

Global economy loses $1.6 trn as world struggles to avoid a new Cold War

Russia's invasion of Ukraine and China's Covid Zero lockdowns are disrupting supply chains, hammering growth and pushing inflation to forty-year highs.

Distracting people won't alter facts, India looks lot like Sri Lanka: Rahul

Rahul Gandhi on Wednesday hit out at the government over rising inflation and unemployment and said India looks a "lot like Sri Lanka" and the Centre should not distract people.

India delivers over 400,000 metric tonnes of fuel to Sri Lanka amid crisis

Amid the worst economic crisis in Sri Lanka, India took another initiative to extend support and supplied 12 shipments and over 400,000 Metric Tones (MT) of fuel to the island nation.The High Commission of India in Sri Lanka took to its Twitter handle to make the announcement of the consignment."12 shipments and more than 400,000 MT of fuel!! Latest consignment of #Diesel from #India under the credit line for fuel was delivered in #Colombo by Torm Helvig today," the High Commission of India in Colombo tweeted.Earlier, on Thursday, India extended its support by supplying 65,000 metric tons of urea to the island nation.The Sri Lankan High Commissioner to India, Milinda Moragoda, held a meeting with the Secretary in the Department of Fertilizers of India Rajesh Kumar Chaturvedi where the issue was discussed, reported Daily Mirror."High Commissioner Milinda Moragoda met with the Secretary to the Department of Fertilizers of India Rajesh Kumar Chaturvedi and thanked him for India's ...

UK advises against travel to Sri Lanka amid political instability

The UK has advised its citizens against traveling to Sri Lanka amid the ongoing political and economic instability."The FCDO advises against all but essential travel to #Sri_Lanka, due to ongoing political and economic instability. This advice does not apply to airside transit through Sri Lanka's international airport," the UK Foreign, Commonwealth & Development Office (FCDO) said in a statement."If you are in Sri Lanka at this time, or considering travel, you should avoid all protests and follow the advice of local authorities," it added.This comes as the State of Emergency has been declared and an island-wide curfew is in place. Several incidents took place on May 9 involving violence against protesters, including in the Galle Face area in Colombo, that resulted in the death of several people."There have been a number of protests since 31 March 2022. Further protests are likely to take place across the island. The Government of Sri Lanka may impose local restrictions at short .

Raising policy rates is not anti-national, RBI will have to do it: Rajan

Inflation is up in India. At some point, the RBI will have to raise rates, like the rest of the world is doing, Rajan said

With global finances at risk, can India avoid a repeat of the 1991 crisis?

India may have done well by keeping commercial bank lending to the government within manageable limits, but RBI has been lending more to the government, which means it has been printing more notes

Covid, soaring inflation threaten second winter of woe for world economy

Among the outcomes anticipated by economists are slowing manufacturing and services activity throughout the euro zone and the U.K., and only modest improvement in the U.S.

President Biden bound for global summits as domestic agenda in limbo

As he prepares to push that message at a pair of global summits, his case could hinge on what's happening in Washington.

Warning signs for global recovery as Delta variant dims outlook

Investor sentiment has become more cautious, according to weekly polls by the American Association of Individual Investors

Covid-19 created employment crisis, 'all countries have suffered': ILO

UN agency predicts uneven economic recovery in second half of 2021, but newly created jobs will be of low quality.

Recovery underway after worst global recession since World War II: IMF MD

IMF Managing Director Christine Georgieva has said that after the worst global recession since the Second World War, the recovery is underway

Oil nearing $70 worries consumer nations, may hamper economic recovery

Consuming nations will bear the cost of pricier energy, potentially fanning inflation and hurting their recoveries

Ford Motor, Mahindra call off JV over global economic, business conditions

The latest move will not have any impact on its product plan, Mahindra and Mahindra said

World experiencing worst recessions since Great Depression due to Covid: WB

World Bank President David Malpass said that given the extent of the economic contraction, there was a rising risk of disruptive debt crises in countries

G20 nations pledge to do 'whatever it takes' to support global economy

IMF Managing Director Kristalina Georgieva said only three eligible countries had even reached out to private creditors out of fear of marring their ability to borrow in the future

Oil down 3% after Donald Trump gets coronavirus and economies wobble

Brent crude slipped on the Trump news and was down $2.05, or 5.01%, at $38.88 a barrel by 1324 GMT. US oil was down $2.01, or 5.19%, at $36.71

India among worst-performing economies; stimulus lacking: Abhijit Banerjee

He, however, said that the country will see a revival in growth in the July-September quarter of the current fiscal

Are intellectuals killing convergence?

A historic process of deglobalisation is underway which can scuttle the growth of poor nations. Disturbingly, this shift has been met by silence or even encouragement by those who should know better

Lebanon inflation soars to 112% year-on-year in July amid economic meltdown

Lebanon's inflation rate soared to 112.4% year-on-year in July amid an economic meltdown, latest official data showed