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Coronavirus replace: IMF downgrades outlook for international economic system in face of virus, India calls on armed forces for assist


The Worldwide Financial Fund has delivered a dismal prognosis for the yr, sharply reducing its forecast to foretell a world financial shrink of 4.9 per cent within the wake of extreme financial harm from the coronavirus.

In the meantime, India’s Residence Minister says armed forces personnel might be offering medical care and a focus for coronavirus sufferers stored in railroad coaches within the Indian capital.

This story was final up to date at 9:00am on Thursday.

Thursday’s key moments

IMF downgrades outlook for international economic system in face of virus

Kristalina Georgieva, Managing Director of the International Monetary Fund, looks sternly at the camera.
IMF’s managing director Kristalina Georgieva had already warned the doubtless path of the worldwide economic system was wanting worse than the April forecast.(AP: Jens Meyer)

The Worldwide Financial Fund (IMF) has sharply lowered its forecast for international progress this yr as a result of it envisions much more extreme financial harm from the coronavirus than it did simply two months in the past.

The IMF predicted the worldwide economic system would shrink by 4.9 per cent this yr, considerably worse than the three per cent drop it had estimated in its earlier World Financial Outlook report launched in April.

Managing director Kristalina Georgieva had already warned that, for the reason that April forecast, the doubtless path of the worldwide economic system was wanting worse.

The IMF mentioned the worldwide financial harm from the recession can be worse than from every other downturn for the reason that Nice Despair of the 1930s.

“No nation has been spared,” Gita Gopinath, the IMF’s chief economist, instructed reporters at a briefing.

For america, it predicts nation’s gross home product — the worth of all items and companies produced in america — will plummet eight per cent this yr.

For the 19 European nations that use the euro forex, it envisions a decline in progress this yr of 10.2 per cent, whereas in China, progress this yr is projected at 1 per cent.

The IMF famous the pandemic was disproportionately hurting low-income households, “imperilling the numerous progress made in lowering excessive poverty on this planet since 1990”.

Croatia reintroduces quarantine after tennis faux-pas

A tennis player spreads his arms wide after losing a point.
Novak Djokovic has come beneath fireplace over tournaments he helped organise which have now seen a number of individuals contract coronavirus.(AP: Lee Jin-man)

Croatia will reintroduce a compulsory 14-day quarantine for guests from Bosnia, Kosovo, North Macedonia and Serbia following an increase in new coronavirus instances over the previous week, the top of the civil safety headquarters has mentioned.

This comes as Novak Djokovic, the men’s world number one tennis player, tested positive for COVID-19 following the Adria Tour exhibition tournament in the Balkan region held from June 12.

Several other players, including Croatia’s Borna Coric, also tested positive after playing in the event which has been criticised for not observing social distance.

Under the temporary measure due to come into effect in Croatia on Thursday, visitors — including Croatian passport holders — arriving from the four Balkan countries will have to self-isolate for two weeks, Interior Minister Davor Bozinovic said.

Those in transit will not be obliged to go into quarantine, and neither will visitors from 10 European Union states to which Croatia opened its borders on June 1.

The authorities also made the wearing of face masks on public transport obligatory from Thursday.

Twenty-two new coronavirus cases were reported in Croatia on Wednesday, bringing the total number to 2,388, with 119 new cases in the past week. Mr Bozinovic said most of the new cases were imported from neighbouring countries.

Indian army called in to manage Delhi outbreak

A woman with a face mask, wearing a colourful saree, sits in an auto-rickshaw with others on scooters behind her.
India’s capital of Delhi is struggling with housing coronavirus patients and will use the armed forces to help with treatment.(AP: R S Iyer)

India’s Home Minister Amit Shah says armed forces personnel will be providing medical care and attention for coronavirus patients kept in railroad coaches in the Indian capital.

“Armed forces personnel have been detailed for providing medical care and attention to COVID-19 patients housed in the railway coaches in Delhi,” Mr Shah said.

The Indian capital is facing bed shortages, and the number of cases in the city has jumped to 66,603 with 2,301 deaths there.

Mr Shah added that 8,000 additional beds have been placed at the Delhi government’s disposal for coronavirus care centres.

Indian Railways has deployed more than 500 railroad coaches at nine locations to meet bed shortages.

The news comes after India recorded the nation’s highest daily total of coronavirus cases yet, with 15,968 confirmed on Wednesday.

Rescued migrants test positive for virus in Italy

Matteo Salvini stands by a pack of microphones.
Italian politician Matteo Salvini says migrants are a threat of bringing new cases to the country.(Reuters: Max Rossi)

Twenty-eight migrants who were rescued at sea have tested positive for coronavirus, Sicily’s Governor said.

The positive tests represent the largest cluster yet among newly arrived migrants, after a handful of positive cases were recorded among new arrivals in May in Greece.

The migrants were being held on a ship off the Sicilian town of Porto Empedocle where some would-be asylum seekers are taken to undergo quarantine after being rescued at sea.

Sicily Governor Nello Musumeci said in a Facebook post Wednesday that the 28 positive tests confirmed that he was right to demand special at-sea quarantine measures for migrants, to prevent new virus clusters from forming.

Right-wing opposition leader Matteo Salvini, who implemented a hard-line anti-migrant policy when he was Italy’s interior minister, said the positive tests proved migrants were a threat.

Drug trial begins on high risk patients

A US-based drug company says it has started the late-stage trial of its experimental muscle disorder drug on patients with coronavirus.

Fulcrum Therapeutics said the drug, losmapimod, will be used in “high-risk” adults who have tested positive to the infection.

The company expects to report topline data in the first quarter of 2021.

Fulcrum said it had exclusively in-licensed the drug from GlaxoSmithKline PLC last year, meaning they are allowed to carry out the testing.

The late-stage trial will assess the proportion of patients who die or experience respiratory failure by day 28, after receiving daily oral dose of losmapimod along with a standard of care for 14 days.

A female research scientist looking at a test tube in a lab
Adults who have tested positive to coronavirus and are “high risk” are the focus of the newest experimental drug trial.(Reuters: Brendan McDermid)

Acclaimed journalist dies after having contracted COVID-19

Gregory Katz, acting London bureau chief for The Associated Press, stands in front of St. George's Chapel in Windsor.
Pulitzer Prize winning journalist, Gregory Katz, died aged 67.(AP)

Gregory Katz, an acclaimed correspondent for The Associated Press in London, who recently led the company’s coverage of Brexit and the election of Boris Johnson, has died aged 67.

He had been ill in recent months and had contracted COVID-19.

His career over four decades took him across the globe, from Latin America to Africa, Asia to Russia, the Middle East and Western Europe.

He was part of the team in 1994 that won the Pulitzer Prize for International Reporting at the Dallas Morning News for a series on violence against women around the world.

Swiss Government says it will cover the cost of testing

Switzerland’s Government will pay for coronavirus testing of citizens.

The announcement came as it approved the launch of its proximity tracing app to prevent a resurgence of the virus as restrictions are relaxed.

The Government said it would take over all costs for virus and antibody tests, and would simplify the system for testing on Thursday.

This is the same day when its COVID-19 tracing app — with which it hopes to alert people potentially infected with the virus-will go live.

New York City Marathon cancelled due to pandemic

Runners on the upper level of the Verrazano Bridge at the start of the 36th New York City Marathon.
The New York City Marathon, the world’s largest, has been cancelled after organisers decided the race posed too many health and safety concerns.(AP: Richard Drew, file photo)

The New York City Marathon, originally scheduled to be held on November 1, has been cancelled — the second of the six World Marathon Majors to be axed this year due to the COVID-19 outbreak.

Race organisers said the decision to cancel the world’s largest marathon was made due to coronavirus-related health and safety concerns for runners, spectators, volunteers and staff.

The 42 kilometre race traverses all five boroughs of the city and had 53,640 finishers in 2019.

The Boston Marathon, originally due to be held in April and then postponed until September, was cancelled for the first time in its history.

The Tokyo Marathon went ahead on March 1 with elite runners only and London’s marathon was postponed to October 4 from April 26.

Organisers of the Berlin event said their race will not go ahead in September, but did not say if it would be postponed or cancelled altogether.

The Chicago Marathon has not announced any changes to their scheduled event in October.

ABC/wires



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