As the Chinese Evergrande Group falls into debt some regards as an encore of the Lehman Brothers crisis of 2008, markets around the globe have begun to brace for the worst despite little signs of encouragement in the opposing sense.
With conferences cancelled and revenues hit because of a lack of rent from student accommodation, Britain's universities are reeling from the global coronavirus pandemic. Schools have already lost millions of pounds thanks to enforced closures under lockdown, and things could get worse still.
Wall Street stocks finished lower following a choppy session on Tuesday as mixed earnings reports and weak consumer data underscored the economic challenges caused by the coronavirus shutdowns.
More than 60 U.N. agencies and international organizations urged governments on Thursday to take immediate steps to address the unfolding global recession and financial crisis wrought by the coronavirus pandemic, especially in the world’s poorest countries.
The novel coronavirus is becoming a financial and public-relations nightmare for the cruise industry, from failed quarantine attempts on ships to passenger lawsuits and a stream of cancellations.
The World Bank and the Inter-American Development Bank are providing Argentina with three loans totaling more than US$1.8 billion, aiming to help the country cope with financial difficulties and support citizens most at risk.
The World Bank forecasts global economic growth to edge up to 3.1% in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices.
The true test for the G20 will be whether it can prevent a future financial crisis, World Bank Group President Robert Zoellick said Friday ahead of the upcoming G20 summit in Cannes.
The head of the Argentine Industrial Union (UIA), José Ignacio de Mendiguren, warned on Wednesday that Argentina “is starting to be affected” by the global financial crisis, furthering that the country “is not protected” against the situation.
Uruguayan President Jose Mujica said Monday that the developed world financial scenario is quite disappointing almost regrettable, and recovery in those countries can be expected to be “very slow and full of uncertainties”