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July 13, 2020
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Fitch has downgraded a record number of sovereign ratings due to the coronavirus. It’s not done yet

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CNBC – For more and to sign up click here Fitch Ratings has downgraded a record 33 sovereign ratings in the first half of this year — and the agency is not done yet as the coronavirus pandemic pummels government finances. James McCormack, Fitch’s global head of sovereign ratings, said......
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IMF says Asia’s economy will shrink ‘for the first time in living memory’ due to the coronavirus

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CNBC – For more and to sign up click here IMF Logo is seen at the International Montary Fund (IMF) headquarters in Washington, United States on April 24, 2017. Samuel Corum | Anadolu Agency | Getty Images Asia’s economy is expected to shrink this year “for the first time in......
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Countries are ‘highly unlikely’ to impose full lockdowns again if there’s a second wave, analysts say

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CNBC – For more and to sign up click here People enjoy the beach amid the coronavirus pandemic in Huntington Beach, California on June 14, 2020. APU GOMES | AFP | Getty Images Countries are very unlikely to impose another full lockdown even though there’s a resurgence of new coronavirus......
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IMF slashes its forecasts for the global economy and warns of soaring debt levels

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CNBC – For more and to sign up click here Brazilian indigenous Anita, of the Marubo ethnic group, is notified that she contracted the new coronavirus by a member of the medical team of the Brazilian Armed Forces EVARISTO SA The International Monetary Fund slashed its economic forecasts once again......
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Coronavirus cases surge in U.S. and Brazil as Germany reports more outbreaks, but markets don’t seem worried

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CNBC – For more and to sign up click here People enjoy the beach in Leme, south of Rio de Janeiro, Brazil, on June 21, 2020 during the Covid-19 coronavirus pandemic. CARL DE SOUZA A surge in coronavirus cases in the U.S. and Brazil, and further outbreaks in Germany — where......
Reuters - Business

IMF says deeper-than-expected contraction in U.S. economy likely in second quarter

Reuters
WASHINGTON (Reuters) – A defacto lockdown in the United States has lasted longer than expected despite a rollback in some restrictions on mobility, pointing to a deeper-than-expected contraction in gross domestic product in the second quarter, the IMF said on Thursday. FILE PHOTO: The One World Trade Center and the......
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IMF set to slash economic forecasts and warns of a crisis ‘unlike anything the world has seen’

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CNBC – For more and to sign up click here An exterior view of the building of the International Monetary Fund (IMF), with the IMG logo, is seen on March 27, 2020 in Washington, DC. OLIVIER DOULIERY The global economy is on track for a more significant contraction than the......
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Tough times ahead for Lebanon, says prime minister’s advisor

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CNBC – For more and to sign up click here Lebanese anti-government protesters wearing protective gear amid the Covid-19 pandemic lift placards demanding the implementation of United Nations resolutions including the disarmament of armed groups in the country, during a demonstration in the capital Beirut, on May 30, 2020. ANWAR......
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Argentina extends deadline of debt negotiations, may sweeten offer

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CNBC – For more and to sign up click here Signal hanging with a message in Spanish that reads ‘protect your mouth with a mask’ in the empty Buenos Aires obelisk landscape during the government-ordered lockdown on May 01, 2020 in Buenos Aires, Argentina. Ricardo Ceppi | Getty Images Argentina......
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IMF says pandemic may skew economic data and cause them to be less accurate

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CNBC – For more and to sign up click here A store stands closed near Wall Street as the coronavirus keeps financial markets and businesses mostly shut on May 08, 2020 in New York City. Spencer Platt | Getty Images Key economic indicators may be skewed, and perhaps less accurate,......
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Ex-Goldman chief economist says China’s economic response to the coronavirus crisis has been ‘timid’

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CNBC – For more and to sign up click here Jim O’Neill, former Goldman Sachs chief economist Adrian Dennis | AFP | Getty Images Compared to many countries, China has rolled out little additional support for its economy that’s been hit by the coronavirus pandemic, said former Goldman Sachs chief......
Reuters - Business

Angola’s oil exploration evaporates as COVID-19 overshadows historic reforms

Reuters
LONDON/LAGOS (Reuters) – The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest oil producer. FILE PHOTO: Kaombo Norte floating oil platform is seen at night off the coast of......
Reuters - Business

IMF chief warns full global economic recovery unlikely in 2021

Reuters
WASHINGTON (Reuters) – The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism. FILE PHOTO: FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during......
Reuters - Business

The devil’s in the detail for junk debt investors facing coronavirus defaults

Reuters
LONDON (Reuters) – Before the coronavirus, investors hungry for returns piled into risky corporate loans and bonds with precious little protection for creditors. Now they’re frantically scouring the terms to see just what firms can get away with to survive the fallout. FILE PHOTO: A board at the New York......

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