Page 7 - Global Economic Crisis

Global dividend plunge to be worst since financial crisis; may drop by 23%

Global dividend payments plunged $108 billion to $382 billion in the second quarter of the year

We urgently need new tools to measure economic recovery after coronavirus

The IMF has revised downward its forecast for global economic growth from -3% to -4.9% this year

Banks stockpile billions as they prepare for things to get worse

Collectively, JPMorgan Chase, Citigroup and Wells Fargo have put aside $25 billion during the second quarter, they said. As a result, their quarterly profits plunged.

IMF says coronavirus crisis could ultimately test $1 trillion war chest

The IMF on Tuesday forecast a deeper global recession than initially anticipated, as business closures, travel restrictions and social distancing measures persist in most countries

Covid-19 batters global economy, jobs - even without 2nd wave: OECD report

With or without a second outbreak, the consequences will be severe and long-lasting, the report says

The economic crisis and India's role in post-coronavirus multilateralism

The world gross domestic product is expected to contract by 3%, international trade may decline by up to 32%, and 49 million people could slip into extreme poverty

Covid-19 crisis: World Bank to rescue with $160-billion aid to 100 nations

'Covid, shutdown may push as many as 60 mn people into extreme poverty'

Global merchandise trade volumes likely to nosedive in H1, says WTO

The global body's goods trade barometer (GTB) on Wednesday hinted at further weakening of trade volumes in H2CY20.

Covid-19 crisis: Warren Buffett cuts crisis-era bet on Goldman Sachs

Berkshire Hathaway sold 84 per cent of its Goldman Sachs stock in the first quarter, marking a reversal for an investor who generally holds large stakes in the banking sector.

WTO reforms have to factor in interests of all, says Suresh Prabhu

"WTO's reforms have to take into account the interests of all members. It has to come out with a forward-looking agenda in an inclusive manner," Prabhu said

Coronavirus outbreak to leave a legacy of unprecedented global debt

Central banks and govts worldwide have unleashed at least $15 trillion of stimulus via bond-buying and budget spending to cushion the blow of a global recession tipped to be the worst since the 1930s.

Calls for debt monetisation gain traction as Covid-19 cripples economy

Coronavirus has snuffed out lives of more than 2,100 people and infected nearly 63,000 in India

Amidst the gloom and doom, the market's exuberance is confounding

For the sake of context, the financial crisis of 2008 had seen the S&P 500 fall by more than 50 per cent from its peak

Covid pandemic could fuel fresh interest in diaspora bonds: World Bank

World Bank officials warned that developing economies could suffer close to 3% decline in economic output

World economy faces steepest contraction; recovery U-shaped: Economists

In a Reuters poll, more than 55% or 87 of 155 economists said the global economic recovery would be U-shaped

Covid-19 pandemic may trigger worst downturn since Great Depression: UN

Both middle-income countries, with 75 per cent of the world's population and 62 per cent of the world's poor, are also highly vulnerable to a debt crisis, said UN Secretary-General Antonio Guterres

Can use full $1-trillion war chest for coronavirus outbreak, says IMF

In view of coronavirus crisis, the spring meeting is being held virtually-- the first one in the history of IMF and the World Bank.

Covid-19: Poor countries staring at a debt crisis, says UN report

Many workers in the gig economy, dominated by service sector start-ups, are poorly protected against income losses in a recession

Global trade likely to fall by 13-32% in 2020 amid Covid-19 outbreak: WTO

Drop in world commerce might be biggest since the Great Depression

Covid-19 worst crisis since WWII, no parallels in recent past, says UN head

Guterres called for a much stronger and more effective global response to the coronavirus pandemic and to the social and economic devastation that COVID-19 is causing