World Bank Chief: COVID May Have Pushed 100M Into Extreme Poverty
The coronavirus pandemic may have driven as many as 100 million people back into extreme poverty, World Bank President David Malpass warned Thursday.
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S&P reaches near record high same day it reports corporate bankruptcies on track to reach 10-year high
The S&P 500 opened near a new record high Tuesday morning, the same day the S&P Global Market Intelligence report projected that corporate bankruptcies will reach a 10-year high in 2020.
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EU states have yet to agree on coronavirus economic stimulus package
German Chancellor Angela Merkel has said a further summit of European Union member states may be required if Friday’s planned meeting fails to produce agreement on an economic stimulus package to help the bloc recover financially from COVID-19, the Was…
Democrat-controlled House approves large infrastructure bill
The Democrat-controlled House approved a $1.5 trillion infrastructure plan Wednesday that would not only rebuild failing roads, railways, ports and transit systems but also fund schools, health care, public utilities, and housing, PBS reported.
The pos…
Investors/lenders urged to help Africa as new study forecasts shrinking economies in 2020
According to a new study, many African nations struggling with the COVID-19 pandemic may find themselves defaulting on debt repayments, DW reports. Weak currencies, higher interest rates, and reduced oil prices could result in African governments losin…
IMF Downgrades Global Economic Forecast
As governments around the world battle the economic fallout of the COVID-19 pandemic, the International Monetary Fund (IMF) has published a further grim forecast, predicting a 4.9% contraction in global GDP (gross domestic product) for 2020, a lower fi…
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