IMF: Economic insolvencies loom large amid recovering financial conditions

IMF pledges new lending support for low-income countries

Latest Global Financial Stability Update by the International Monetary Fund (IMF) warned that insolvencies still threaten economic breakthrough despite recovering financial conditions across countries. The following are the key takeaways from the June update: Risk asset prices have rebounded following the precipitous fall early in the year, while benchmark interest rates have declined, leading to an overall easing of financial conditions. Swift and bold actions by central banks aimed at addressing severe market stress have boosted market sentiment, including in emerging markets, where asset purchases have been deployed in a…

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World Bank releases guidelines for reopening of economies

World Bank cuts Nigeria’s 2021 growth forecast

The World Bank has released steps countries, especially poor countries, can adopt to cushion negative impacts of Coronavirus pandemic (COVID-19) on their economies. This is targeted governments and authorities across nations mulling partial or total reactivation of their economies, having been forced to shut down operations in most sectors the pandemic over past months. According to analytical chapters released Tuesday by the World Bank Group’s Global Economic Prospects Report, “developing countries and the international community can take steps now to speed recovery after the worst of the health crisis has…

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