The outbreak of the new Coronavirus continues to spread, but many European countries continue to phase out sanctions. Meanwhile, the IMF has pointed out that developing Asian countries can be badly affected by the outbreak.
Coronavirus infected exceeds two million
New coronavirus has been diagnosed in 185 countries worldwide and the number of victims continues to increase. That number exceeds two million. The death toll from COVID 19 is over one hundred thirty-seven thousand. The most affected country is the United States, where about 6.4 million people have been infected, while the death toll has risen to 26,000. After the United States, the highest number of casualties has occurred in Italy, which is about twenty-one and a half thousand. The number of people recovering from the disease is more than five million.
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| SOURCE: Project Syndicate. |
Economic growth in major Asia is likely to be adversely affected
The World Monetary Fund has warned that Asia's rapidly developing economies could be badly affected by the current global outbreak of the new Coronavirus. According to the IMF's Asia-Pacific region director Cheng Yong Ri, this may be the first time since the 1960s that the economic growth rate in the region was zero percent. According to him, the situation could be far more serious than the financial crisis of 2008 and 2009 and the economic crisis of 1997 and 1998 in Asia. Cheng said the impact of the recession in Europe and the United States would negatively affect Asian markets.
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| SOURCE: WORLD BANK |
The United States also considered easing restrictions
US President Donald Trump is proposing a plan today to make the economic activity possible in his country. In the latest press briefing, he claims that the United States has gone through this crisis. Trump said he has set rules and regulations on how to start working in certain industries. During the briefing, Trump also said that less affected states could gradually lift sanctions from May. It is important to note that over the past twenty-four hours, more than twenty-six deaths have been recorded in the United States despite Trump's assertion.
One Year Discount on Debt Payment for Poor Countries
Group G Twenty-two developed countries have announced a one-year discount on loan payments to the poorest countries in the world. The announcement was made by Saudi Finance Minister Mohammed Al Majdan in Riyadh on Wednesday after consultation with the finance ministers of other member states and the governors of the central banks. The G20 also called on the poorest countries to provide $ 20 billion to cope with the Cody Ennis epidemic. The breakthrough will benefit the world's poorest 76 countries. The IMF and the World Bank have been demanding concessions in debt payments to poor countries.
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