World GDP 4.9 IMF troubled



  Posted June 25, 2020 01:12 am

  Corona virus will cause global GDP to 

The International Monetary Fund (IMF) has said that the economic crisis caused by the corona virus is unprecedented and this year the total GDP from other countries in the world, including the Middle East and Central Asia (MECA), is 4.9.  Percentage fell.

  According to a report by The Guardian, the IMF in its latest global economic outlook said that a loss of ہزار 12,000 billion is expected during 2020-20 and millions of jobs have been lost due to the closure of businesses around the world.

  Read more: Corona virus: IMF proposes governments to intervene to stabilize the market

  According to the International Monetary Fund, the prospects for economic recovery are also at stake.

  The World Bank predicts that global growth for next year could be 5.4 percent, down 0.4 percent from the previous estimate.

  The agency said growth in the MECA regions is forecast at 3.3 percent.

  It should be noted that the global announced financial aid reached close to ہزار 11,000 billion, which was ہزار 8,000 billion in April.

  Read also: Current account deficit reduced by 72% in 7 months

  Geeta Gopinath, chief economist at the IMF, said the estimates put the global economy at a total loss of more than ہزار 12,000 billion by 2020, up from 9 9,000 billion two months earlier.

  "Where there is a need for lockdown, there is a need to reduce household income losses through economic policies and provide financial support to industries," he said.

  "Where the economies are reopening, the targets must be set as soon as the recovery works," he said.

  It should be noted that the IMF had said that it was ready to lend 10 1 trillion to help countries affected by the Corona virus and struggling with economic effects.

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  On March 15, the US Federal Reserve cut interest rates to zero to encourage economic growth.

  Earlier, on March 7, the IMF urged governments to protect the public from the economic effects of the global medical crisis caused by the corona virus.

  The guidelines issued by the IMF in Washington state that "those most affected should not go bankrupt without making a mistake."

  At the same time, it was said that the employees of a family-run restaurant or factory closed due to quarantine in a tourism-dependent country need help in this crisis.

  The IMF also stressed the importance of allocating funds to local governments, saying "these should be spent on running clinics and medical personnel in the affected areas, as China and Korea have done.