International Monetary Fund
EC: Romania's economy to contract by 6% in 2020; government deficit up to 9.2% of GDP
Romania's economy is projected to contract by 6% in 2020 after many years of robust growth, whereas the general government deficit is forecast to increase to around 9.2% of the GDP in 2020, according to the European Economic Forecast - Spring 2020, published by the European Commission (CE) on Wednesday.
'Optimistic' Finance Ministry scenario sees recession at 4.7 pct
The Finance Ministry's estimates about the impact of the coronavirus on the Greek economy this year are at the optimistic end of the range of projections expressed to date and near those of the Bank of Greece, according to the Stability Program Athens submitted to the European Commission last Thursday.
Government optimism over GDP outlook
Against the dramatic forecasts for fiscal figures to slump to levels reminiscent of the worst years of the debt crisis, there is also optimism within the government that things will actually turn out to be rather better.
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Half the world knocking on IMF’s door
Half of the world's countries have asked the International Monetary Fund (IMF) for a bailout amid the coronavirus pandemic, the global body's head Kristalina Georgieva said late on April 15.
"This is an emergency like no other," she said in an interview with CNBC, adding that the IMF is providing funding on the basis of rapid assessment of conditions in every country.
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IMF Approves New Mechanism for Short-Term Assistance to Countries
The International Monetary Fund has approved the creation of a short-term liquidity facility to assist countries in combating the economic impact of the coronavirus pandemic, said IMF Managing Director Kristalina Georgieva.
Erdoğan criticizes private banks for ‘not doing enough’
President Recep Tayyip Erdoğan has said that state-owned banks have taken a number of measures to help businesses amid the coronavirus outbreak, however, private banks are "failing the test."
Oxfam: Half a billion people could sink into poverty from coronavirus crisis
The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on Thursday.
Coronavirus crisis could plunge half a billion people into poverty: Oxfam
The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on April 9.
Low oil prices drag Middle East economies to collapse
The low oil price environment in the global market is dragging the Middle Eastern oil-producing countries to collapse, whose economies are strongly dependent on crude oil production and exports.
World Bank: The Poor Countries Will Take the Hardest Hit
The poor countries "will take the hardest hit, especially ones that were already heavily indebted before the crisis," said David Malpass, World Bank chief.