With the economy still reeling from the damage inflicted by the coronavirus pandemic, the Federal Reserve confirmed it will keep the benchmark interest rate at zero until the recovery is underway.
Bank says coronavirus pandemic inflicted a "swift and massive shock" causing broadest collapse of global economy since 1870.
When the dust from the pandemic settles, there will be a lot of people in developed economies wondering why, their systems failed them.
The unprecedented contraction of the global economy due to the coronavirus lockdowns has led to comparisons between today and the crisis seen in the 1930s.
The International Monetary Fund says that beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, and Africa would get its share too.
In its latest report, the International Monetary Fund said strong multilateral cooperation will be essential to overcome the effects 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.
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.
The combination of a viral pandemic and an oil shock may have brought us to the brink of an economic crisis – with no end in sight.
Stocks have changed direction again and again this week as investors tried to get a sense of whether a trade dispute between the two nations will escalate.
Economists had predicted more than $1 trillion of international investment would flow into Iran over the next decade. But even before the latest US decision, the money had been slower to materialise than anticipated.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2023 TRT World.
Like
Follow