Covid 19 will mean lower inflows into emerging markets bonds and equities
“Political risks are high because COVID-19 response adds uncertainty to the relations among the federating units,” said the World Bank documents.
She added that the agreement with Ukraine was reached on “staff level” and requires approval by the IMF executive board.
The former chief economist of the IMF said ways have to be found to give relief to people and companies affected by COVID and the ensuing nationwide lockdown.
Widespread shutdowns aimed at containing the virus are taking a huge toll on the global economy, and especially poor countries with weak health systems, high debt levels and few resources to manage the dual health and economic crises.
Over 300 lawmakers from around the world on Wednesday urged the International Monetary Fund and World Bank to cancel the debt of the poorest countries in response to the coronavirus pandemic
The reverse migration due to COVID-19 and the global economic gloom will add to the growing unemployment, worsen rural poverty, among other welfare implications
As countries emerge out of lockdowns and the economy and trade links revive, there’s an opportunity for India to attract more global cargo traffic — especially traffic that moves away from China
Countries should also strengthen their unemployment benefits and social safety nets in order to reinvigorate economic growth once the virus abates, the global lender said in its semi-annual Fiscal Monitor.
On the technical side, a close below $9 a barrel would take prices further lower to $3 or even to negative territory. On the higher side, prices need to stabilise above $33 to negate the broad bearish outlook.
"We are concerned by supply disruptions from the growing use of export restrictions and other actions that limit trade of key medical supplies and food," the institutions said in a joint statement.
More resources may be needed if market pressures continue to mount, and lending - even on easy terms - is not always the best solution, given already high debt burdens faced by many countries, she said.
IMF Managing Director Kristalina Georgieva said on Friday that the world economy was in a sluggish recovery before the coronavirus outbreak, warning that it is now bound to suffer a "severe recession" in 2020.
The IMF's decision comes at the request of Pakistan, which faces an urgent balance of payment crisis. This is in addition to the USD 6 billion bailout package that Islamabad signed with the IMF in July last year to stave off a balance of payment crisis.
Asia doing better than other regions in the world in their fight against the deadly coronavirus and may recover faster, a top official from the International Monetary Fund has said.
A day earlier, the IMF in its World Economic Outlook had forecast India's growth rate to be 1.9 percent in 2020.
Describing the COVID-19 pandemic as a crisis like no other, International Monetary Fund head Kristalina Georgieva on Wednesday said the international body is proposing to use all its USD 1 trillion lending capacity.
A massive IMF liquidity injection through issuance of new Special Drawing Rights, something akin to a central bank "printing" new money, has the backing of many finance ministers, prominent economists, and non-profit groups.
In the futures market, crude oil for April delivery touched an intraday high and low of Rs 1,750 and Rs 1,513 per barrel on the MCX
Medical supplies like surgical masks, gowns and ventilators are required in massive number across the globe because of the coronavirus pandemic.
But this year, the world must brace for the biggest recession since the Great Depression
The novel coronavirus outbreak has exposed "cracks" in the global financial system and "will likely" see banks suffer both credit losses and market losses that will test their reserves, the International Monetary Fund.
The impact of the coronavirus is magnified in emerging markets by crowded conditions, plummeting commodity prices and massive capital flight.
Georgieva said that even before the spread of COVID-19 and the dramatic health, economic and financial disruptions it has brought, International Monetary Fund (IMF) members confronted a rapidly evolving world and complex policy issues.
The warnings about the damage inflicted by the virus already were stark, but Georgieva said the world should brace for "the worst economic fallout since the Great Depression."