The IMF Press Center is a password protected site for working journalists.IMF Global Economy Forum
In the 65th edition of his monthly radio programme 'Mann Ki Baat', which coincides with the last date of the fourth phase of nationwide lockdown, Prime Minister Narendra Modi today warned people to not let their guards down as the economy opens up gradually from tomorrow. The government has announced a phased exit from over two month lockdown from tomorrow as lockdown 5.0 has been turned into 'Unlock 1.0'.Here are the key highlights of PM Modi''s Mann Ki Baat address:
Special Sections Daniel of the Year Books of the Year Annual Books Issue Annual Roe v. Wade Issue Hope Awards Hope Awards Directory Editorial Cartoons Marvin Olasky Bio Series Marvin Olasky Books 9 11 Remembrances Aid for Iraqis amp; Syrians Magazine Archives Writer Archives Wire Reports Contact Guest Services Become a Member Start a 3 month Trial Activate Online Account Subscribe Donate Donate to WORLD Science amp; TechDiscoveries Energy Environment Health Intelligent Design New Products Weather Family SocietyAging Crime Grief Suffering Marriage Natural Disaster Parenting Penal System Pro Life Race Sexuality PoliticsCities Congress Courts Elections First Amendment Government Legislation Military Policy State Supreme Court White House Effective CompassionCharity Children Homelessness Hunger Ministries Philanthropy Poverty Sex Trafficking Unemployment EducationChristian schools Homeschooling Higher Education K 12 Pre School Public Schools Vouchers Choice Faith amp; ReligionCatholicism Controversy Denominations Devotional Evangelicalism Islam Missions Other Religions Religious Liberty Scandal Culture amp; ArtsArt Books History Media Movies Music Sports Theatre TV Video Games InternationalChurch Movements Disasters Persecution Political Unrest Terrorism War Business amp; EconomyBig Business Entrepreneurs Markets Money Regulations Small Business Unemployment Jobs Work Vocation Coronavirus China Campaign 2020 Abortion Sexuality Religious Liberty Television Movies Books Saturday Series Iraqi Syrian Aid WORLD Radio Relations Reporting on marriage, family, and sexuality Associated Press Photo by Rich Pedroncelli (file)Protesters against sex education changes in Sacramento, Calif. Protecting innocence Family Families push back against so called comprehensive sex ed in schools by Mary Jackson Posted 5 29 20, 05:01 pm When Sandi Padilla distributed leaflets in Downey, Calif., neighborhoods and held signs outside local public schools to oppose her school district s new sex education curriculum, she was thinking of her 4 year old twin granddaughters. She said she is fighting for the girls who will start school in August.The curriculum in question, called Teen Talk, normalizes sexual activity and homosexuality and teaches pre teens and teenagers that they could be born in the wrong body. One parent took photos of pages from the curriculum and circulated them among friends, churches, and others. Reading the material made my stomach turn, Padilla said.
From credit to capital outflows. Image: Unsplash Ibrahim Rifath This article is published in collaboration with IMF Blog 29 May 2020 Fabio M. Natalucci Deputy Director of the Monetary and Capital Markets Department, IMF Tobias Adrian Senior Vice President, Federal Reserve Bank of New York The World Economic Forum COVID Action Platform Learn more Most Popular COVID 19: What you need to know about the coronavirus pandemic on 26 MayRoss Chainey 26 May 2020 Areas of declining COVID 19 cases could see an imminent second wave, warns WHOReuters Staff 26 May 2020 Science leads the response to COVID 19. These 25 scientists are tackling the other global challengesAlice Hazelton and Martha Chahary 26 May 2020 More on the agenda Forum in focus World is 100 years away from gender parity but these countries are speeding things up Read more about this project Explore context COVID 19 Explore the latest strategic trends, research and analysis The International Monetary Fund has warned the coronavirus pandemic is further amplifying existing financial vulnerabilities. From capital outflows to corporate credit markets, risks exist across the world economy. Much the same way COVID 19 hits people with pre existing health conditions more strongly, so is the pandemic triggered economic crisis exposing and worsening financial vulnerabilities that have built up during a decade of extremely low rates and volatility.Our recently released chapters 2 4 of the Global Financial Stability Report focus on three potential weak spots: risky segments in global credit markets, emerging markets, and banks. Should the ongoing economic contraction last longer or be deeper than currently expected, the resulting tightening of financial conditions may be amplified by these vulnerabilities, causing more instability or even a financial crisis.
EDMONTON Alberta is planning to distribute 20 million non medical masks for free at hundreds of drive thru fast food restaurants.Health Minister Tyler Shandro says it''s one more way to keep Albertans safe as the economy reopens following shutdowns forced by COVID 19.
In recovering from the coronavirus, California must achieve a more equitable economyHow lottery money for disks and video tapes could help California ''s community colleges
Covid 19 may lead to an outpouring of pandemic fiction but Lawrence Wright got there first even before the pandemic itself. In the last few years, the award winning journalist was immersed in research for his new novel, The End Of October, which was released recently, ahead of schedule, as the book s publishers found it an uncanny mirror to our times.Set in the spring of 2020, the story revolves around the outbreak of a novel coronavirus far deadlier than SARS CoV 2 causing a disease called Kongoli flu. Traced to a camp in Indonesia, this mysterious microbe affects the immuno compromised worst, leads to rapid decline of the person affected and a painful death. Predictably, it spreads beyond the camp, via a carrier who goes to Mecca for Haj, and a worldwide pandemic ensues. Initially, governments brazenly ignore the threat, but then, as the fatalities pile up, desperate measures are adopted. The US economy is gutted, the unnamed president falls prey to the virus, a cyber war with Russia ensues, and extreme food scarcity sparks off looting and anarchy. Social isolation, physical distancing and protective gear become the new normal, while offices and schools shut down.
World18 hours agoMany political leaders around the world have reached for the imagery of conflict to describe the coronavirus pandemic. In France, President Emmanuel Macron said his nation was at war with an invisible enemy. Over in the US, President Donald Trump positively revels in the idea of being a wartime president . In the UK, Prime Minister Johnson has spoken of the virus as an enemy and even said that we must act like any wartime government to protect the economy.
Market Expertz has published yet another new report on the global Industrial Paint Stripper market. This report can help the user to better understand the opportunities and threats that are doled by the industry and its players. Additionally, this study is inclusive of the market scenario and factors like the players who influence and dominate the industry. The strategies of these players, the products they offer, their operating areas, and the opportunities are discussed in detail. The report serves the analysis of the global market share, segmentation, revenue growth estimation, and geographic regions of the market.The report includes the latest coverage of the impact of COVID 19 on the Industrial Paint Stripper industry. The incidence has affected nearly every aspect of the business domain. This study evaluates the current scenario and predicts future outcomes of the pandemic on the global economy.
Spain will reopen its borders to tourists in July and its top soccer division will kick off again in June, the Prime Minister said on Saturday, marking another phase in the easing of one of the world''s strictest lockdowns.Pedro Sanchez''s dual announcements coincided with calls for his resignation over the lockdown''s impact on the economy from the far right Vox party, which called protests in cities across Spain drawing thousands of horn blaring cars and motorbikes.
HTC partnered with a local produce company to deliver more than 400 pounds of fruits and vegetables to the Kingston Lake Education and Business Center in Loris on Thursday morning. As the local economy begins to reopen, HTC recognizes many neighbors and small businesses need backing now more than ever.To support the Kingston Lake Education and Business Center in its mission to help feed seniors and families in Loris and throughout Horry County, HTC delivered fresh food from Stevens Farms Produce. The delivery included tomatoes, squash, peaches and other locally grown produce.
According to GlobalData, that number will drop dramatically to 50.2 million tourists in 2020. This decrease highlights the devastating impact that COVID 19 is having on Spanish tourism and the wider Spanish economy.Following the news that Spain aims to open up to overseas holidaymakers by late June; Ben Cordwell, Travel amp; Tourism Analyst at GlobalData, a leading data and analytics company, offers his view on the current situation:
Let us not be unfair to the government. I have supported Prime Minister Modi when he first announced the lockdown, while noting that its preparation, timing and communication left much to be desired. The PM was decisive when a hard call had to be taken. Indecision or further delay could have landed us in a worse state than we are. In retrospect, we now know that our response was already delayed, but it would be unfair to indict the government on that basis. Global knowledge and awareness at that time did not warrant such a response. On balance, we reacted faster than most other countries. It would also be unfair to blame the Modi government for all the mess that we face today. A largely unanticipated pandemic is bound to create havoc, even in the best of places. It is bound to be worse in a country like India, given the weak public health fundamentals and fragile response systems. An indictment of the Modi government must be careful about limiting itself to what could have been anticipated, what could have been achieved in our conditions. And it must leave room for genuine mistakes. Faced with a crisis of this kind, the best of leaders with the purest intentions will make erroneous calls. They must be criticised, but not indicted for bona fide errors of judgement.
The unprecedented Corona Lockdown has changed the face of the Indian economy and companies are leveraging Innovation to face the ”new normal ”. These innovations range widely mdash; from inexpensive alternatives in form of 3D printed Rs 20 Face shields; new partnerships such as Uber Big Basket tie up to deliver essential products; or tech driven contactless services like diagnostic robots at Apollo Hospital, Bangalore.On one hand, it is heartening to see widespread acceptance of innovation as the tool to spur the next growth wave. On the other hand, one worries that Indians are often seen as champions of ”Frugal ” or stripped down innovation, frequently missing the mark on quality or last mile connectivity. When the primary focus is on delivering the low cost product that uses minimum raw material, businesses disregard that Innovation is both a process and an outcome. The ”jugaad ” mentality forces one to ignore the robustness of the innovation process.
New Delhi: Worried over the mass exodus of migrant workers to respective home states, industries now want them to return so that economic activities could restart at the earliest, once the lockdown is over. According to a quick survey by the trade body PHD Chamber of Commerce and Industry (PHDCCI) to assess the impact of Covid 19 pandemic on businesses and maintaining profitability, 49% of the respondents said that retaining the full workforce would be a major challenge. The respondents in the survey said that payment of salaries to employees and working capital would be the major challenges while businesses prepare for increasing sales volumes, competitiveness and cost cuttings. Migration of workers is still going on across the country. While a large number of them have already travelled back to their respective villages on foot or by buses, arranged by the state governments, the Centre has so far operated more than 800 Shramik Special trains ferrying more than 10 lakh such workers to their home states. PHDCCI president Dr D.K. Aggarwal said: Since the inception of the lockdown period, most of the migrant workers had moved to their native places. Further, due to the absence of public transport services like buses and railways, migrant labourers are not able to reach their work places and, therefore, full resumption of exempted activities has become difficult. Apart from these issues, country s supply chain has been massively disrupted due to the ongoing Covid lockdown. The Centre, on its part, has initiated discussion with employers bodies like CII, FICCI and Assocham. Labour Minister Santosh Gangwar held a webinar with these bodies to discuss issues like restarting economic activities, job creation and measures to improve the situation of MSMEs to enable them to discharge their liabilities under labour laws. There was a general demand to suspend labour laws, barring some key provisions across the country for the next two three years to help industries come out of the crisis induced by the lockdown to combat the Covid 19 pandemic. The industry bodies suggested a slew of measures and sought relaxations like increasing working hours to 12 hours per day from the existing eight hours per day to help them revive operations, according to a statement by the Ministry of Labour and Employment. The statement said that the industry associations suggested to suspend the labour laws for the next 2 3 years except for provisions like minimum wages, bonus and statutory dues, to help the industry come out of the present crisis . According to survey, besides retaining the full workforce, other challenges for businesses in the post lockdown include maintaining price cost margins profitability (61%), payment of wages salaries to employees (60%), availability of working capital (58%), repayment of loans payment of EMIs (53%), high costs of capital (52%), availability of finances loans (51%), costs of social distancing (51%), weakening of demand (51%) and compliances of labour laws (50%). Due to the lockdown, majority of the factories businesses companies are shut with no or little revenue, all export orders are getting cancelled and units unable to repay loans. Majority of the respondents have responded that this will make them less likely to retain of the full workforce. Further, most of the retrenchment is likely to take place in labour intensive sectors. Thus, 49% of respondents opined that retention of the full workforce will be highly challenging in the post lockdown scenario, Aggarwal said. The survey revealed key plans of the businesses in post lockdown such as increasing the sales volume (67%), enhancing competitiveness of business (65%), cost cutting of business operations (64%), enhancing business operations in the domestic market (60%), focus on innovation, research and development (58%), enhancing the price cost margin (53%), reducing the workforce in business operations (50%), increasing the scale of business operations (44%), diversify business operations (43%) and enhancing business operations in the international market (36%). The PHDCCI has said that the labour laws in India need to be made more effective, flexible and in sync with emerging economic and industrial scenario. Most of the respondents have responded that given the disruptions caused by Covid 19 and the resultant lockdown, following the relatively rigid provisions in different labour laws prevalent in the Indian economy will become difficult and hamper the revival of industry. Thus, 50% of respondents opined that compliance of labour laws will be highly challenging in the post lockdown scenario, the trade body has said. It has demanded that the government should pay 75% of salary of the workers of the lockdown period and employer contribution in EPFs during the lockdown period should be brought down to zero to ease the financial burden of the industry. Finance Minister Nirmala Sitharaman, interestingly, has announced reduction in the statutory PF from 12% to 10% for three months. She also said that government will pay the PF for firms with 100 staff, earning less than Rs 15,000, as announced earlier under the Pradhan Mantri Garib Kalyan Scheme.
The Times of India News App for Latest India News