Global Situation
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Coronavirus: World economy 'may face double recession'
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Apr 16th, 2020viaBBC News - Business
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The world economy already faces an economic downturn worse than the Great Depression. But this could be followed by another “possibly much worse downturn”, according to the Economist Intelligence Unit (EIU).
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Coronavirus: Asian economies won't grow this year, says IMF
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Apr 15th, 2020viaBBC News - Business
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Economies in Asia will see zero growth this year for the first time in 60 years, the International Monetary Fund (IMF) has said. Its bleak outlook for the region comes as it warns the global economy will face the "worst recession since the Great Depression".
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Coronavirus: Global stocks set to sink as economic reality bites
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Apr 16th, 2020viaCity AM - Business
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Global stocks were set to fall today as “ugly” economic data and weak bank earnings suggest a recession is on the horizon. Asian stocks dropped today, with Japan’s Nikkei falling 1.2 per cent while Hong Kong’s Hang Seng index dropped 0.7 per cent.
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Judge voids Puerto Rico pension law, delays effective date due to coronavirus
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Apr 15th, 2020viaReuters UK - Financial Services News
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A U.S. judge ruled on Wednesday that bankrupt Puerto Rico cannot fund more than $300 million in annual pension and health costs for its municipalities, but suspended the effective date of the order for three weeks due to the ongoing coronavirus health crisis.
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