Economic Crisis

UN Chief on COVID-19 and People on the Move

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António Guterres (United Nations Secretary-General) on COVID-19 and People on the Move. COVID-19 continues to devastate lives and livelihoods around the globe — hitting the most vulnerable the hardest. This is particularly true for millions of people on the move — such as refugees and internally displaced persons who are forced to flee their homes … Read more UN Chief on COVID-19 and People on the Move

Can Lebanon come back from the brink? | The Stream

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“Lebanon’s finished.” That’s the prevailing sentiment among many residents in this nation these days, as it grapples with the worst economic crisis in its history. Today, nearly half of Lebanon’s six million people live below the poverty line. More than a third of the working population is unemployed, and the nation’s currency has lost 60 … Read more Can Lebanon come back from the brink? | The Stream

Economist: ‘French economic crisis compares to Great Depression, or worse’

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FRANCE 24 spoke to economist Sébastien, who directs the economic research institute CEPII in Paris, about the state of the French economy, and where it is headed due to the coronavirus crisis. Subscribe to France 24 now: http://f24.my/youtubeEN FRANCE 24 live news stream: all the latest news 24/7 http://f24.my/YTliveEN Visit our website: http://www.france24.com Subscribe to … Read more Economist: ‘French economic crisis compares to Great Depression, or worse’

BofAML’s Harris Says Unemployment Rate Will Hit 19%

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Jun.01 — Ethan Harris, head of global economics research at Bank of America Merrill Lynch, talks about how the Federal Reserve is responding to the economic crisis and he thinks unemployment in the U.S. will hit 19%. He speaks on “Bloomberg Surveillance.”

Scrap Bank of England inflation target to focus on GDP growth, says Jim O’Neill | CoronaNomics

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The Telegraph’s economics reporter Lizzy Burden interviews Jim O’Neill, former Treasury minister. One of Britain’s most prominent economists has urged Rishi Sunak to scrap the Bank of England’s inflation target to make economic growth its primary goal as Britain attempts a recovery from the pandemic. Lord Jim O’Neill, a former Treasury minister who is understood … Read more Scrap Bank of England inflation target to focus on GDP growth, says Jim O’Neill | CoronaNomics

Quarter of US workers file for unemployment benefits

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A quarter of American workers have now applied for unemployment benefits since mid-march when the coronavirus pandemic escalated in the country. Another 2.1 million made claims last week. More than 40 million people are facing financial ruin in the worst economic crisis to hit the United States since the Great Depression of the 1930s. Al … Read more Quarter of US workers file for unemployment benefits

‘We need to respond with unity & solidarity. A key aspect of solidarity: financial support’-UN Chief

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Opening remarks by António Guterres, Secretary-General of the United Nations on the High-Level Event on Financing for Development in the Era of COVID-19 and Beyond. “(…) Today, we are asking for immediate, collective action in six critically important areas. First, global liquidity. A rush to safety has triggered an outflow of capital from some key … Read more ‘We need to respond with unity & solidarity. A key aspect of solidarity: financial support’-UN Chief

Mark Cuban On How Government Can Fix This Crisis

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How should the government address the economic crisis? On this episode, we talk with Mark Cuban, the Shark Tank co-host and billionaire owner of the Dallas Mavericks, who has been outspoken about what he sees as necessary to address this crisis. He explains to us why he thinks the government should directly get in the … Read more Mark Cuban On How Government Can Fix This Crisis

Venezuela health system ‘grossly unprepared’ for COVID-19 crisis

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A new report by Human Rights Watch and Johns Hopkins University is warning that Venezuela is so poorly-equipped to deal with coronavirus that it could make things worse for the whole region. Millions of Venezuelans have fled the country in recent years as it deals with an economic crisis that has made the healthcare sector … Read more Venezuela health system ‘grossly unprepared’ for COVID-19 crisis

Trafficked Nigerian women rescued from Lebanon

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In tonight’s edition: Fifty Nigerian women who had been traffficked into Lebanon as undocumented workers have been rescued and returned home – this according to Nigeria’s Foreign Minister. It’s the latest knock-on effect on undocumented Africans in Lebanon in the midst of an economic crisis there. Also in Nigeria how are frontline workers coping with the … Read more Trafficked Nigerian women rescued from Lebanon

COVID-19 fuels Venezuelan migrants’ crisis

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European countries are appealing for money to help more than five million Venezuelan migrants who left their homes because of the economic crisis. Most remained in Latin America where many are destitute. Now the coronavirus pandemic is making their situation worse because they cannot return home. Al Jazeera’s Lucia Newman reports from Santiago. – Subscribe … Read more COVID-19 fuels Venezuelan migrants’ crisis

Shape of Global Growth Recovery: Will it Be V, U or Something Else?

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May.21 — Hootan Yazhari, managing director of MENA and global frontier markets at Bank of America Securities, discusses the outlook for the global economy and markets. Abu Dhabi’s $220 billion wealth fund says the world economy is likely to recover from this year’s virus-driven recession with 5% growth in 2021, and that the most likely outcome … Read more Shape of Global Growth Recovery: Will it Be V, U or Something Else?

Lebanon’s banking association rejects government’s economy plan

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Lebanon’s leaders are struggling to find answers to the unprecedented economic crisis. And stalled reforms are affecting its talks with the International Monetary Fund. Now Lebanon’s banking association has rejected the government’s five-year rescue plan, instead putting forward its own proposal. Al Jazeera’s Zeina Khodr reports from Beirut, Lebanon. – Subscribe to our channel: http://aje.io/AJSubscribe … Read more Lebanon’s banking association rejects government’s economy plan

Charts that Count: will Covid-19 light the fuse on a debt bomb?

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The FT’s US finance editor Robert Armstrong explains how high US consumer debt could fuel the economic crisis caused by coronavirus, causing global ripple effects. See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132 ► Check out our Community tab for more stories or to suggest … Read more Charts that Count: will Covid-19 light the fuse on a debt bomb?