Coronavirus live news: global cases approach 4 million as US unemployment hits 14.7%
Trump says Covid-19 will ‘go away without a vaccine’; UK death toll passes 31,000; Russian cases top 10,000 for sixth consecutive day. Follow the latest updates
- Global report: Madrid told not to ease lockdown
- US blocks vote on UN’s bid for global ceasefire over reference to WHO
- Coronavirus at a glance
- US – live news
- Australia – live news
The head of the International Monetary Fund on Friday signaled a possible downward revision of global economic forecasts, and warned the United States and China against rekindling a trade war that could weaken a recovery from the coronavirus pandemic.
Kristalina Georgieva, the IMF’s managing director, told an online event hosted by the European University Institute that recent economic data for many countries was coming in below the fund’s already pessimistic forecast for a 3% contraction in 2020, Reuters reports.
“With no immediate medical solutions, more adverse scenarios might unfortunately materialize for some economies,” Georgieva said. “It is the unknown about the behavior of this virus that is clouding the horizon for projections.”
The IMF’s April projection for a 3% contraction the global economy would mark the steepest downturn since the Great Depression of the 1930s. The IMF forecast a partial rebound would follow in 2021, but warned that outcomes could be far worse, depending on the course of the pandemic.
President Donald Trump has threatened to punish China for its handling of the virus by imposing new tariffs, and on Friday suggested he could end a Phase 1 US-China trade deal.
On Friday, Georgieva warned that a retreat into protectionism could weaken the prospects for a global recovery at a critical juncture. “It is hugely important for us to resist what may be a natural tendency to retreat behind our borders,” she said.
Hello this is Rebecca Ratcliffe, bringing you the latest global coronavirus updates.
Global reported cases of coronavirus stand at 3,932,896, according to the Johns Hopkins university tracker, approaching the grim 4 million milestone. Across the world, 274,422 deaths have been registered, with the US on top with 77,126. The UK has recorded the second highest fatalities, with 31,315, followed by Italy on 30,201.
Continue reading...from World news | The Guardian https://ift.tt/35KNzQa