World Bank

The World Bank has approved a $100 million loan to Turkey to support its efforts to fight the coronavirus pandemic.

"The project is part of the World Bank's $14 billion global Fast Track Facility," said a bank statement.

Moldovan Prime Minister Ion Chicu told a TV show on Wednesday that the country's public finances were in dire straits owing to the pandemic, and the country desperately needed a new IMF loan to avoid catastrophe.

Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast.

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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.

The World Bank has revised significantly its estimates of the Romanian economy's advance this year, down to 0.3 percent from 3.8 percent, as projected three months ago, but growth would gradually bounce back in the second half of 2020 and further accelerate in 2021 to 4.4 percent, according to the World Bank's economic update spring 2020.

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.

According to the latest data from Johns Hopkins University, the COVID-19 infected in the world are more than 785 thousand, and those who are cured are more than 165 thousand.

The poor countries "will take the hardest hit, especially ones that were already heavily indebted before the crisis," said David Malpass, World Bank chief.

International Monetary Fund Managing Director Kristalina Georgieva said on Monday that the IMF expects the global economic recession in 2020 to be "at least as bad as during the 2008-2009 global financial crisis or worse" .