IMF, G-20: Recovery from recession at risk
Manila Bulletin|November 21, 2020
Fresh restrictions due to resurgence of COVID-19 cited
IMF, G-20: Recovery from recession at risk

Leaders of the global economy are warning that the recovery from this year’s recession is at risk and could be derailed as the resurgence of COVID-19 forces fresh restrictions on households and companies.

Both the International Monetary Fund (IMF) and the Group of 20 (G-20) – which comprises the world’s richest nations – sounded the alert as leaders of the G-20 prepare for a virtual summit this weekend, hosted by Saudi Arabia. The IMF noted progress on a vaccine but also said elevated asset prices point to a disconnect from the real economy and a potential threat to financial stability.

“While global economic activity has picked up since June, there are signs that the recovery may be losing momentum, and the crisis is likely to leave deep, unequal scars,” officials at the Washington-based fund said in a report published Thursday. “Uncertainty and risks are exceptionally high.”

The UK, Germany, and France as well as parts of the US and Australia are among those with new curbs on movement and businesses to contain the pandemic. They’re not as stringent as the lockdowns imposed earlier in the year, but are still enough to damage growth.

“The recovery is uneven, highly uncertain and subject to elevated downside risks, including those arising from renewed virus outbreaks in some economies,” the G-20 said in a draft communique seen by Bloomberg. “We are determined to continue to use all available policy tools as long as required to safeguard people’s lives, jobs, and incomes, support the global economic recovery, and enhance the resilience of the financial system.”

Diese Geschichte stammt aus der November 21, 2020-Ausgabe von Manila Bulletin.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der November 21, 2020-Ausgabe von Manila Bulletin.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS MANILA BULLETINAlle anzeigen
Taking care of older persons is the collective concern of the citizenry
Manila Bulletin

Taking care of older persons is the collective concern of the citizenry

The International Day of Older Persons is observed on Oct. 1 each year.

time-read
2 Minuten  |
October 1, 2021
Promoting safe driving in the new normal
Manila Bulletin

Promoting safe driving in the new normal

Ford Driving Skills for Life

time-read
2 Minuten  |
October 1, 2021
ON MANNY PACQUIAO - You're the greatest – Roach
Manila Bulletin

ON MANNY PACQUIAO - You're the greatest – Roach

From one legend to another.

time-read
2 Minuten  |
October 1, 2021
NAT'L BASKETBALL ASSOCIATION - PAY CUTS FOR NO VAX PLAYERS
Manila Bulletin

NAT'L BASKETBALL ASSOCIATION - PAY CUTS FOR NO VAX PLAYERS

NBA poises crackdown on those who refuse to get vaccinated

time-read
1 min  |
October 1, 2021
Duterte renews commitment to infra dev't
Manila Bulletin

Duterte renews commitment to infra dev't

With only months left in his term, President Duterte reassured the public that his administration remains committed to its promise of infrastructure development aimed at making the Philippines a progressive nation.

time-read
2 Minuten  |
October 1, 2021
Sustain Our Teachers' Enthusiasm; Enable Young Learners To Hurdle The Learning Crisis
Manila Bulletin

Sustain Our Teachers' Enthusiasm; Enable Young Learners To Hurdle The Learning Crisis

For 10 years now, the period from Sept. 5 to Oct. 5 of every year has been observed as National Teachers Month (NTM), by virtue of President Benigno S. Aquino III’s Proclamation No. 242. The observance culminates on Oct. 5 that, by virtue of Republic Act 10743, is observed as World Teachers Day (WTD) and National Teachers Day (NTD) pursuant to a UNESCO mandate.

time-read
2 Minuten  |
September 30, 2021
Love knows no borders
Manila Bulletin

Love knows no borders

Pangasinense couple weds at checkpoint

time-read
3 Minuten  |
September 30, 2021
The Next Election Is No Waste Of Time
Manila Bulletin

The Next Election Is No Waste Of Time

An appeal to the young who can influence the outcome of the upcoming elections

time-read
4 Minuten  |
September 29, 2021
US Olympian Biles Says She Should've Quit Earlier
Manila Bulletin

US Olympian Biles Says She Should've Quit Earlier

Gymnastics

time-read
1 min  |
September 29, 2021
Drones And Jets: China Shows Off New Air Power
Manila Bulletin

Drones And Jets: China Shows Off New Air Power

ZHUHAI, China (AFP) — China on Tuesday showed off its increasingly sophisticated airpower including surveillance drones and jets able to jam hostile electronic equipment, with an eye on disputed territories from Taiwan to the South China Sea and rivalry with the United States.

time-read
1 min  |
September 29, 2021