IMF drives down global growth forecast; India to grow at 9.5% this year and 8.5% in 2022

India’s economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022, according to latest projections released by the International Monetary Fund (IMF). India’s growth projection released by the latest World Economic Outlook remains unchanged from its previous […]

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Global economy seen growing at 5.6% in 2021 as many developing countries struggle with pandemic’s lasting effects

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The global economy is expected to expand 5.6% in 2021, the fastest post-recession pace in 80 years, largely on strong rebounds from a few major economies, but many emerging market and developing economies are still struggling with the COVID-19 pandemic and its aftermath, the World Bank said in its latest Global Economic Prospects report Despite […]

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IMF MD Christine Georgieva says recovery is underway after worst global recession since World War II

A day after the International Monetary Fund (IMF) forecast a global growth of six per cent for this year, IMF Managing Director Christine Georgieva has said that after the worst global recession since the Second World War, the recovery is underway. In its latest World Economic Outlook, IMF has projected a stronger recovery for the […]

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Global trade drops 5% in third quarter of 2020 : UNCTAD

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Global trade recorded a 5% drop in the third quarter of this year compared with the same period last year, according to an UNCTAD report. This marks an improvement on the 19% year-on-year plunge recorded in the second quarter, and the frail recovery is expected to continue in the fourth quarter, with a preliminary forecast […]

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COVID-19 to plunge global economy into worst recession since World War II

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The swift and massive shock of the coronavirus pandemic and shutdown measures to contain it have plunged the global economy into a severe contraction, the World Bank said, adding that the global economy was expected to shrink by 5.2% this year.  “That would represent the deepest recession since the Second World War, with the largest […]

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COVID-19’s global economic impact could reach $8.8 trillion, says ADB

The Asian Development Bank (ADB) doubled its estimate of the impact of the coronavirus pandemic on global economy, saying it expected economic losses of between i $5.8 trillion to $8.8 trillion, or 6.4% to 9.7% of global gross domestic product (GDP). Economies with domestic outbreaks and strict lockdowns will be hardest hit as domestic demand […]

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The Great Lockdown to trigger worst recession since the Great Depression, says IMF

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The global economy is set to shrink by 3 percent this year, the worst recession since the Great Depression back in 1930s, thanks to the spread of the deadly coronavirus that has killed more than 120,000 people across the world and triggered a global economic lockdown, the International Monetary Fund (IMF) said. “Under the assumption […]

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Global economy to expand at fastest pace since 2010; IMF says opportunity to secure recovery

The global economy is expected to turn in the best growth in six years, IMF Managing Director Christine Lagarde told the G-20 economists and finance professionals, adding that this offered everybody a major opportunity to secure and expand its recovery. IMF forecasters expect the global economy to expand 3.6 percent this year, the fastest pace […]

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