New Delhi, Apr 17 (PTI) S&P Global Ratings on Friday slashed India growth forecast for the current fiscal to 1.8 per cent, from 3.5 per cent estimated earlier, on account of the lockdown to contain Covid-19 pandemic.
The US-based rating agency expects growth to significantly recover to 7.5 per cent in 2021-22 fiscal.
18 April 2020; AFP: Coronavirus deaths have surged past 150,000 worldwide with nearly a quarter of them in the United States, where President Donald Trump lent his support to protesters rallying against lockdown orders.
Evidence is mounting that social distancing successfully slowed the pandemic after more than half of humanity -- 4.5 billion people -- were confined to their homes.
WASHINGTON (Reuters) - The International Monetary Fund (IMF) and the World Bank are providing emergency funds to developing and low-income countries across the world to strengthen their efforts to battle the rapidly spreading coronavirus.
Following is a list of countries slated to receive funds from the two institutions’ emergency facilities, or as augmentation of existing programs, sorted by region:
Burkina Faso - $115.3 million (IMF)
Burundi - $5 million (World Bank)
Cabo Verde - $5 million (World Bank)
Chad - $115 million (IMF)
CHICAGO (Reuters) - President Donald Trump on Friday announced a $19 billion relief program to help U.S. farmers cope with the impact of the coronavirus, including $16 billion in direct payments to producers and mass purchases of meat, dairy, vegetables and other products.
The U.S. Agriculture Department is partnering with regional and local distributors to purchase $3 billion in such farm goods to be distributed to food banks, churches and aid groups as millions of Americans face unemployment with much of the economy shut down.
SAN FRANCISCO (Reuters) - The U.S. economy has imploded in the past month amid aggressive measures to slow the spread of the novel coronavirus, with 22 million people filing for unemployment benefits and most factories, stores and other businesses at a virtual standstill.
The governors of Michigan, Florida and other states outlined tentative steps on Friday to reopen their economies, a day after the White House issued guidelines to help states decide when to lift lockdown orders and allow firms to restart and workers to return to their jobs.
CAPE CANAVERAL, Fla. (AP) — NASA and SpaceX have picked May 27 for resuming astronaut launches from the U.S. after nine years of complete Russian dependence.
NASA Administrator Jim Bridenstine announced the launch date Friday. Astronauts haven’t launched into orbit from the U.S. since NASA’s last space shuttle flight in 2011. SpaceX aims to end the drought by sending two NASA astronauts to the International Space Station.
“On May 27, @NASA will once again launch American astronauts on American rockets from American soil!” Bridenstine tweeted.
(AP) --- The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the global economy, the work place and the spread of the virus.
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CENTRAL BANKS AND GOVERNMENT: The coronavirus pandemic has skewered almost all economic models.
WASHINGTON (AP) — Congressional oversight of about $2 trillion for the coronavirus crisis began to take shape Friday as three members were appointed to a congressional commission that will monitor how the money is spent.
Sen. Pat Toomey, R-Penn. and Reps. French Hill, R-Ark., and Donna Shalala, D-Fla., were added to the five-member Congressional Oversight Commission by congressional leaders. They join Bharat Ramamurti, a former Democratic Senate aide who until Friday has been the panel’s sole appointee.
BON AIR, Va. (AP) — Coronavirus has erupted inside a juvenile detention center in Virginia with 25 kids testing positive, accounting for a quarter of all cases reported at youth facilities nationwide, officials said Friday.
WASHINGTON (AP) — The Navy’s top admiral will soon decide the fate of the ship captain who was fired after pleading for commanders to move faster to safeguard his coronavirus-infected crew on the USS Theodore Roosevelt.
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