Development banking

July 17, 2020 - 6:02 pm
WASHINGTON (AP) — The International Monetary Fund predicted Friday that the U.S. economy will shrink 6.6% this year, pounded by the coronavirus and the lockdowns meant to contain it. The grim forecast is actually an upgrade from one the IMF made last month when it foresaw the American economy...
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FILE - In this March 19, 2020 file photo, a deserted construction site is pictured in Dardilly, near Lyon, central France. The virus crisis has triggered the worst global recession in nearly a century -- and the pain is not over yet even if there is no second wave of infections, an international economic report warned Wednesday. (AP Photo/Laurent Cipriani, File)
June 24, 2020 - 9:01 am
WASHINGTON (AP) — The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. The IMF predicts that the global economy will shrink 4.9% this year,...
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FILE- In this file photo taken Thursday, April 30, 2020, Women carrying their children lineup to receive vegetables from the Jan Hofmeyer community services in the Vrededorp neighborhood of Johannesburg. South Africa is struggling to balance its fight against the coronavirus with its dire need to resume economic activity. The country with the Africa’s most developed economy also has its highest number of infections — more than 19,000. (AP Photo/Jerome Delay, file)
May 28, 2020 - 7:40 pm
UNITED NATIONS (AP) — The U.N. chief on Thursday warned the largest gathering of world leaders since the coronavirus pandemic began that it will cause “unimaginable devastation and suffering around the world,” with historic levels of hunger and famine and up to 1.6 billion people unable to earn a...
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In this April 8, 2020 photo, laborers wear facemasks to protect against the spread of the new coronavirus as they look at job postings at a labor market in Qingdao in eastern China's Shandong Province. China has reported its biggest economic decline since the 1970s as it fought the coronavirus in the first quarter of the year. (Chinatopix via AP)
April 17, 2020 - 3:37 pm
WASHINGTON (AP) — The 189-nation International Monetary Fund and its sister lending agency, the World Bank, on Friday pledged to step up their efforts to cushion the blow to the global economy from the coronavirus pandemic. The two agencies' assurance came at the end of their spring meeting where...
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April 15, 2020 - 2:42 pm
WASHINGTON (AP) — The head of the International Monetary Fund said Wednesday that the lending agency is facing huge demand for support from its members during the global pandemic. An unprecedented 102 of the IMF's 189 member countries are seeking assistance from the organization, Managing Director...
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A masked man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Wednesday, April 15, 2020. Asian stocks edged lower Wednesday after the International Monetary Fund said the global economy will suffer its worst year since the Great Depression of the 1930s due to the coronavirus pandemic. (AP Photo/Kin Cheung)
April 15, 2020 - 12:06 am
Asian stocks edged lower Wednesday after the International Monetary Fund said the global economy will suffer its worst year since the Great Depression of the 1930s due to the coronavirus pandemic. Benchmarks in Tokyo and Hong Kong were flat while Shanghai and Sydney declined despite Wall Street's...
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The buildings of the banking district are seen in Frankfurt, Germany, early Tuesday, April 14, 2020. Due to the coronavirus the economy expects worldwide heavy losses. (AP Photo/Michael Probst)
April 14, 2020 - 9:29 am
WASHINGTON (AP) — Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. The IMF said Tuesday that it expects the global economy to shrink 3% this year — far...
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Ukrainian President Volodymyr Zelenskiy wearing a face mask to protect against coronavirus speaks during an extraordinary parliamentary session in Kyiv, Ukraine, Monday, March 30, 2020. Ukraine has been under quarantine since March 12. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo)
March 31, 2020 - 4:28 am
KYIV, Ukraine (AP) — Ukraine's parliament has voted to lift the ban on the sale of farmland in a move that would allow the country to get $8 billion worth of aid from the International Monetary Fund. The bill, long pushed by economists to stimulate investment in agriculture, was approved by 259...
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FILE - In this Feb. 14, 2020 file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said Friday, March 27, it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. She said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage(AP Photo/Jens Meyer, File)
March 27, 2020 - 3:54 pm
WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recovery in...
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In this photo released by Saudi Press Agency, SPA, Saudi King Salman, chairs a video call of world leaders from the Group of 20 and other international bodies and organizations, from his office in Riyadh, Saudi Arabia, Thursday, March 26, 2020. The meeting is aimed at coordinating the global response to the fast-spreading coronavirus, which has shuttered businesses and forced well over a quarter of the world's population into home isolation. (Saudi Press Agency via AP)
March 26, 2020 - 11:40 am
DUBAI, United Arab Emirates (AP) — The head of the United Nations told leaders of the world’s 20 major industrialized nations during an emergency virtual summit on Thursday that "we are at war with a virus – and not winning it” despite dramatic measures by countries to seal their borders, shutter...
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