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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Most commodity prices to drop in 2020 as coronavirus depresses demand and disrupts supply

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The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank said. Energy and metals commodities are the most affected by the sudden stop to economic activity and the serious global slowdown that is anticipated. Commodities associated with […]

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South Asia must ramp up COVID-19 action to protect people, revive economies – World Bank

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Amid the mounting human toll and global economic fallout triggered by the COVID-19 pandemic, South Asian governments need to ramp up action to curb the health emergency, protect their people, especially the poorest and most vulnerable, and set the stage now for fast economic recovery, the World Bank said in its twice-a-year-regional update. Released today, […]

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East Asian, Pacific economies face prospects of recession thanks global financial shock triggered by COVID-19 – World Bank

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The virus that triggered a supply shock in China has now cause a global shock and East Asian and Pacific economies, recovering from trade tensions and battling COVID-19, now face the prospect of recession thanks to the financial shock the world is facing, the World Bank said in a report. Sound macroeconomic policies and prudent […]

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More states coming forward to adopt ‘Climate Resilient Villages’ model, says DG ICAR

BY RITWIK SINHA The adverse impact of climate changes on Indian agriculture is increasingly becoming visible with delayed rainfall or excessive rainfall resulting in demand-supply imbalance of several commodities in the domestic market in the recent times. To deal with the vagaries triggered by unpredictable weather conditions, the Ministry of Agriculture has resorted to promotion […]

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Global growth to weaken to 2.6% in 2019, substantial risks seen; India seen rising to 7.5% – World Bank

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Global economic growth is forecast to ease to a weaker-than-expected 2.6% in 2019 before inching up to 2.7% in 2020, the World Bank said, adding that growth in emerging market and developing economies is expected to stabilize next year as some countries move past periods of financial strain, but economic momentum remains weak. Emerging and […]

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Oil prices to be lower in 2019 on slower-than-expected global growth, rising non-OPEC supply – World Bank

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Crude oil prices are expected to average $66 a barrel in 2019 and $65 a barrel in 2020, a downward revision from the October forecast due to the weaker-than-expected global growth outlook and greater-than-anticipated U.S. production, the World Bank said. Metal prices are expected to continue a recovery in 2019 that follows a sharp drop […]

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