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Coronavirus to bring Asia’s economic growth to a halt for the first time in 60 years

Asia’s financial expansion this yr will grind to a halt for the initially time in sixty a long time, as the coronavirus crisis takes an “unparalleled” toll on the region’s service sector and big export locations, the International Monetary Fund stated on Thursday.

Policymakers will have to supply targeted guidance to homes and companies hardest-strike by travel bans, social distancing guidelines and other actions aimed at that contains the pandemic, stated Changyong Rhee, director of the IMF’s Asia and Pacific Department.

“These are remarkably uncertain and tough periods for the world economic climate. The Asia-Pacific location is no exception. The effect of the coronavirus on the location will be extreme, throughout the board, and unparalleled,” he explained to a digital news briefing carried out with dwell webcast.

“This is not a time for company as common. Asian countries will need to use all policy devices in their toolkits.”

Asia’s economic

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Coronavirus LIVE: MPs take 30% salary cut, govt to bring ordinance

Coronavirus India update: The amount of scenarios in India observed a dramatic enhance of about seven-hundred to 4,314 and dying toll rose to 118, confirmed Worldometer data. In the meantime, amid criticism for not achieving out to the Opposition even as the place confronted a grave wellness crisis and a 21-day lockdown, Prime Minister Narendra Modi on Sunday identified as up numerous Opposition leaders, including Congress interim president Sonia Gandhi, besides previous prime ministers and presidents of the place.
 
Coronavirus planet update: British Prime Minister Boris Johnson was admitted to a healthcare facility since of “persistent” signs of the coronavirus, a spokesman verified on Sunday. Globally, the dying toll surpassed 69,758 and the amount of infections rose to one,278,654. The US dying toll is nearing the 10,000-mark, even as the total amount of scenarios in that place now stands at 336,670.
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