Kristalina Georgieva speaks during a news conference after a meeting. Reuters/ File
Governments in emerging markets, which have suffered an exodus of capital of more than $83 billion in recent weeks, can cover much of that, but "clearly the domestic resources are insufficient" and many already have high debt loads.
The pandemic sweeping the world will turn global economic growth “sharply negative” in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.
Governments around the world have spent $10 trillion in fiscal actions to respond to the novel coronavirus pandemic and its economic fallout, but significant further efforts are needed, the head of the International Monetary Fund said on Thursday.
Despite some signs of recovery, the global economy faces continued challenges, including the possibility of a second wave of COVID-19, and governments should keep their support programs in place, IMF chief Kristalina Georgieva said on Thursday.
The global manufacturing activity expanded in July, adding to hopes the sector is emerging from the hit of the coronavirus pandemic.
The UAE, Saudi Arabia and Egypt drew up to 65.4 per cent of the total FDI inflows to the Arab nations in Q1-2020, according to a report released by the Arab Investment & Export Credit Guarantee Corporation (Dhaman)
Sheikh Ahmed Bin Humaid Al Nuaimi, Chairman of the Ajman Free Zone, AFZ, has launched AFZ’s eight new economic incentives for the second half of 2020.
The Dubai Real Estate Institute (DREI), in Dubai Land Department, DLD, is organising the first virtual real estate conference titled ‘Real Estate post-COVID-19 - Challenges and Solutions,’ in cooperation with a number of entities in Saudi Arabia.