ABOUT US  |  CONTACT US  |  RSS  |  ARCHIVE  |  2023-09-24  |  UPDATED: 1402/07/02 - 00:55:4 FA | AR | PS | EN
US to supply Ukraine with long-range missiles reaching 300km             China urges lifting of Ďillegal unilateral sanctionsí against Syria            Russia says Armenian troops in Nagorno-Karabakh begin surrendering weapons            China ready to work for regional peace with South Korea: President Xi             Ukraine says Russian naval commanders killed in Crimean HQ during missile attack             Martyr Morteza Avini as the pioneer of Iranís Sacred Defense cinema             Pakistan: We will put pressure on the Taliban for the right to education for girls and the rights of Afghan women             UK recession risk grows with cost-of-living crisis hitting businesses            Poland to send older weapons to Ukraine to fulfill existing agreements: President            Meet Claudia Sheinbaum, the Nobel Laureate Set to Become Mexicoís First Female President            Trump Reportedly Refused to Wear COVID Mask Because It Ruined His Makeup             Calls to reopen girlsí schools in Afghanistan continue            Tajik President Remarks on Intra-Afghan Dialogue, Inclusive Govt            Thomas West: ĎWe Need to Keep Women, Girlsí Issues Front and Center            Iraq reiterates its rejection of foreign combat presence on its soil            


DATE PUBLISHED: 1399/01/28 - 13:37:1
VISIT: 514
SHARE WITH YOUR FRIENDS

Asiaís 2020 growth to halt for 1st time in 60 years amid coronavirus pandemic: IMF


The skyline of the Beijingís Central Business District rises behind people crossing a street during evening rush hour as the spread of coronavirus disease (COVID-19) continues in China, April 15, 2020. (Reuters photo)

The International Monetary Fund says Asiaís economic growth will come to a halt in 2020 for the first time in 60 years amid the coronavirus pandemic.

The outbreak will have a "severe" impact on the regionís service sector and major export destinations, the IMF said in a report Thursday.

"These are highly uncertain and challenging times for the global economy. The Asia-Pacific region is no exception. The impact of the coronavirus on the region will be severe, across the board, and unprecedented," said Changyong Rhee, director of the IMFís Asia and Pacific Department.

"This is not a time for business as usual. Asian countries need to use all policy instruments in their toolkits," Rhee told a virtual news briefing conducted with live webcast. "In doing so, policy tradeoffs will be inevitable and will depend on policy space."

Although Asia is expected to fare better than other regions being impacted by economic contractions, the projection is worse than the 4.7% average growth rates throughout the global financial meltdown, and the 1.3% rise during the Asian financial crisis in the late 1990s, the IMF said in its report.

The IMF projects a 7.6% expansion in Asian economic growth next year provided that containment policies will be fruitful, but added the outlook was highly tentative.

"For 2021, there is hope: if containment policies succeed, we will see a rebound in growth," Rhee said.

In comparison with the global financial crisis caused by the 2008 collapse of Lehman Brothers, the coronavirus pandemic is mainly affecting the regionís service sector by forcing households to stay home and shops to remain closed, the IMF said.

The regionís export powerhouses were also suffering from a decreasing demand for their goods by key trading partners such as the United States and European countries, it said.

Meanwhile, Asia stocks are expected to tumble as investors are worried about the possibly worst recession since 1930s.

Over 2,000,000 have been affected so far and more than 134,000 have died of the coronavirus.

 

SOURCE: PRESS TV

 

LINK: https://www.ansarpress.com/english/15959


TAGS:






*
*

*



SEE ALSO

UK recession risk grows with cost-of-living crisis hitting businesses


IMF to urge China to shift growth model towards consumption


US imposes sanctions on Russian automakers


Iranís oil output up 5% to 3 mln bpd in August: OPEC data


EU to deliver Є500 million to Afghan people


South Korea may punish Tesla


Central bank calls on India to ban cryptocurrency


Imran Khan pledges more development help to Afghanistan


Afghanistanís Central Bank slates US plan for frozen funds


India, WFP signs MoU to distribute food grains in Afghanistan





VIEWED
MOST DISCUSSED




POLL

Modi, Merkel Discuss Afghanistan, Radicalisation And Terrorism

SEE RESULT


LAST NEWS

Addressing UNGA: Russian FM slams Westís Ďempire of liesí, says Kiev peace plan not feasible

US to supply Ukraine with long-range missiles reaching 300km

China urges lifting of Ďillegal unilateral sanctionsí against Syria

Russia says Armenian troops in Nagorno-Karabakh begin surrendering weapons

China ready to work for regional peace with South Korea: President Xi

Ukraine says Russian naval commanders killed in Crimean HQ during missile attack

Martyr Morteza Avini as the pioneer of Iranís Sacred Defense cinema

Pakistan: We will put pressure on the Taliban for the right to education for girls and the rights of Afghan women

UK recession risk grows with cost-of-living crisis hitting businesses

Poland to send older weapons to Ukraine to fulfill existing agreements: President

Meet Claudia Sheinbaum, the Nobel Laureate Set to Become Mexicoís First Female President

Trump Reportedly Refused to Wear COVID Mask Because It Ruined His Makeup

Calls to reopen girlsí schools in Afghanistan continue

Tajik President Remarks on Intra-Afghan Dialogue, Inclusive Govt

Thomas West: ĎWe Need to Keep Women, Girlsí Issues Front and Center

Iraq reiterates its rejection of foreign combat presence on its soil

Ukraine warns of Ďdifficultí winter after massive missile strikes by Russian forces

Former president Rabbani remembered on 12th anniversary of his assassination

Putin accepts formal invitation from Xi to visit China next month

Release of US prisoners showed true face of Iranís humanitarian motives: Raeisi

China slams UK report on Hong Kong, says Londonís plans Ďdoomed to failí

Iranís President: We firmly clasp any hand that is extended in friendship

Al Nassr victorious over 10-man Persepolis

Azerbaijan must halt Karabakh operation íimmediatelyí: EU

US military claims to find lost stealth jet fighter

US announces new sanctions over Iranís drones, military aircraft

Turkeyís president says parliament not ready to ratify Sweden NATO bid

Russiaís defense minister visits Tehran for talks on boosting defense cooperation

China FM heads to Russia after meeting with US national security adviser

Saudi Al-Nassr football team arrives in Tehran

Amnesty Intl: Secondary Schools Should Be Reopened for Afghan Girls

Two of five Iranians released in US prisoner swap deal arrive in Qatar

Iranian President Raeisi in New York for UN General Assembly session, key talks

Ukraine fires six deputy defense ministers in major reshuffle

Hangzhou Asian Games torch relay continues in China+ Video

íFuture of Europe at stakeí over migrant crisis: Italian PM

IMF to urge China to shift growth model towards consumption

Workers strike at all three Detroit automakers enters third day

Russian ambassador tells US to remove sanctions barriers to restore Black Sea grain deal

US Military: The 2021 Kabul airport incident will be re-examined


MEDICAL NEWS


ANSAR PRESS ©  |  ABOUT US  |  CONTACT US  |  MOBILE VERSION  |  LINKS  |  DESIGN: Negah Network Co.
All right reserved. Use this website by mentioning the source (link) is allowed. ›—ś‘ź«Ś «یš —š ی šŕŠ»šŌ«š