Global finance leaders on Tuesday said the world economy had escaped a coronavirus-triggered collapse so far, but warned that failure to conquer the pandemic, maintain stimulus and tackle mounting debt among poor nations could crush a fragile recovery.
"The story is less dire than we thought three months ago, but dire nonetheless," IMF Managing Director Kristalina Georgieva said during a panel discussion that was held virtually. The Group of 20 major economies, in a draft communique seen by Reuters, said the outlook was"less negative" due to the positive impacts from actions already taken, but the recovery will be"uneven, highly uncertain and subject to elevated downside risk."
The freeze aims to free up billions of dollars that poor countries can divert to their pandemic health and economic responses.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's imports, exports surge as global economy reopensBEIJING (REUTERS) - China's imports grew at their fastest pace this year in September, while exports extended their strong gains as more trading partners lifted coronavirus restrictions in a further boost to the world's second-biggest economy.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
China's imports, exports surge as global economy reopensBEIJING: China's imports grew at their fastest pace this year in September, while exports extended their strong gains as more trading partners ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Global watchdogs agree rules for stablecoins like Facebook's LibraCentral banks set out to regulate cross-border stablecoins like Facebook's planned Libra with a common approach on Tuesday, saying more rules may ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Collapse of global tax talks could cost US$100 billion, OECD saysThe global economy could shed more than 1per cent of output if international talks to rewrite cross-border tax rules break down and trigger a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Coronavirus has exposed global leadership crisis: Milken surveyWASHINGTON (BLOOMBERG) - The coronavirus pandemic has shown there's a leadership deficit around the world, according to a survey which said more people trust companies over their governments to keep economies going during the crisis.. Read more at straitstimes.com. That, and the malign value of the MSM.
Source: The Straits Times - 🏆 8. / 63 Read more »
IMF sees less severe global contraction but worsening outlook for many emerging marketsWASHINGTON (REUTERS) - The International Monetary Fund on Tuesday (Oct 12) said forecasts for the global economy were'somewhat less dire' as wealthy countries and China rebounded more quickly than expected from coronavirus lockdowns but warned that the outlook was worsening for many emerging markets.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »