"The sovereign ratings on the US reflect its diversified and resilient economy, extensive monetary policy flexibility, and unique status as the issuer of the world's leading reserve currency," the dollar, S&P said in a statement.
The price of crude spurted as much as 30 percent higher after President Donald Trump said he expects Russia and Saudi Arabia to back away from their price war,.
In a matter of days, African leaders have made multiple appeals for financial aid to combat the impact of the Covid-19 pandemic.
Asian stocks fell following a sell-off on Wall Street, with investor confidence continuing to be rattled by the coronavirus crisis.
As the global economy heads for recession and people fear job losses, all eyes are on a few central bankers.
The World Bank's report projects that growth in China and other East Asian-Pacific countries will slow to 2.1 precent this year from 5.8 percent in 2019 under a “baseline” forecast in which economic recovery takes hold this summer.
Last week G20 leaders had pledged to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus outbreak
"It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis, IMF chief Kristalina Georgieva said.
More than three million people in the US filed a claim for unemployment benefits last week as coronavirus pandemic is devastating the country's economy.
The unmet needs of a home-bound population offer new economic opportunities and sectors like pharma and food are at first-mover advantage.
The US Senate has approved a $2.2 trillion bailout bill, while the UK has announced its own worth $400bn. Many however argue that the sums, large as they are, may not be enough.
The US Senate unanimously passed a $2-trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus pandemic, as well as providing billions of dollars to buy urgently needed medical equipment.
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