After Donald Trump's Warning, China Jumps To Defense Of Pakistan

Washington, Feb 1: The Indian economy experienced some abrupt slowdown in 2019 due to turbulence in non-banking financial institutions and major reform measures such as GST and demonetisation, but it is not in a recession, IMF Managing Director Kristalina Georgieva has said.

"The Indian economy indeed has experienced an abrupt slowdown in 2019. We had to revise our growth projections, downwards to four percent for last year. We are expecting 5.8 per cent (growth rate) in 2020 and then an upward trajectory to 6.5 percent in 2021," Georgieva told a group of foreign journalists here on Friday.

"It appears that the main reason for this slowdown was the non-banking financial institutions experiencing a turbulence," she said on the eve of Union Finance Minister Nirmala Sitharaman presenting the annual budget in Parliament on Saturday.

She said India had undertaken some important reforms that over the longer term would be beneficial for the country, but they do have some short-term impact.

"For example, coming with the unified tax system, and the demonetisation that took place. These are steps that over time are beneficial, but of course they might, might be somewhat disruptive over short term," Georgieva said in response to a question.

The International Monetary Fund (IMF) Managing Director said that there is not a lot of fiscal space in India. “But we also recognise that the policies of the government on that side, on the fiscal side have been prudent. We will see how the reading of the budget, the submission of the budget goes, tomorrow,” she said.

In the medium-term, she said, the IMF remains optimistic about India. “This is why we see that upswing potential for the growth in the country,” she said.

Georgieva said that the current economic slowdown cannot be described as a recession. "No.... You're far from that. But it is a significant slowdown, not the recession," she said.

The IMF managing Director noted that the consumption in India also slowed down and that contributed to the overall slowdown in the economy. The IMF would be keen to see what India does to get relatively sound macroeconomic fundamentals to pay off in terms of better growth trajectory, she said ahead of the budget.

One thing that is important for India is that budgetary revenue have been below target. "The country knows that. The finance minister knows it. They need to increase budgetary revenue collection so they can improve their fiscal position. I said it's tight on the spending side, but I also want to stress that there is room to improve collection on the revenue side," she said.

Los Angeles, Apr 30: Los Angeles will begin offering coronavirus">coronavirus testing for free to all citizens regardless of whether they have symptoms, Mayor Eric Garcetti said on Wednesday, adding that LA is the first major US city to take such an initiative.

During the press conference, Garcetti announced that all county residents can now get free coronavirus">coronavirus testing. 

He said the announcement will only apply to city residents for now, but that a similar plan is in development for Los Angeles County,
Garcetti also took to Twitter to announce the same. "Announcing that L.A. is now the first major city in America to offer free COVID-19 testing to all residents. 

While priority will still be given to those with symptoms, individuals without symptoms can also be tested. Sign up at Coronavirus.LACity.org/Testing," he said
Under the new guidelines, priority for the same- or next-day testing will still be given to people with symptoms, such as a fever, cough, and shortness of breath. The free testing will also be prioritized for certain critical frontline workers who interact with the public.

Until now, only residents with symptoms as well as essential workers and those in institutional settings like nursing homes could be tested.

On Wednesday, the LA County reported 1,541 new cases, bringing the total to 22,485 - a seven per cent increase since yesterday.

This includes a backlog of cases that were processed. In the city, there were 683 new cases on Wednesday, bringing the total to 10,380 -- a 7 percent increase since yesterday.

Seoul, Apr 15: Wearing masks and gloves, South Korean voters cast their ballots on Wednesday to elect 300 parliamentary lawmakers amid the coronavirus outbreak.

Voting kicked off at 6 am (local time) and was to run until 6 pm (local time) at 14,330 polling stations across the country, according to the National Election Commission (NEC). The number of eligible voters is 44 million, according to Yonhap news agency.

The once-in-four-years legislative election is widely seen as a referendum on President Moon Jae-in, whose five-year term will end in mid-2022, as well as a test of the country's fight against COVID-19 under the leadership of Moon, The Strait Times reported.

South Korea has received international praise for its massive testing capability and other innovative measures, such as drive-through testing and high-tech contact tracing.

Experts, therefore, expect the ruling Democratic Party (DP) to extend its lead in Parliament, given that the government's handling of the virus outbreak is viewed positively both at home and abroad, as per The Strait Times.

At least 10,564 people in the country have been infected by coronavirus, which has claimed 222 lives. About 2,800 patients are undergoing treatment.

The number of new cases has fallen from a high of 813 on February 29 to below 50 for six days in a row as an intensive social distancing campaign that started on March 21 remained in place.

Several surveys cited by the newspaper also showed that voters consider the pandemic as the biggest factor in their decision. A recent poll showed that 72.6 per cent of respondents rated the government's response to the outbreak as positive.

The NEC has said that public safety at polling stations will be a priority to prevent any possible spread of the virus.

All 14,330 polling stations and 251 counting stations will be disinfected on polling day, the NEC was quoted.

Voters will undergo temperature screening and those registering temperatures of 37.5 degrees Celsius or higher or display respiratory symptoms will have to exercise their franchise at a separate booth.

Tuesday was the last of 13 days of campaigning, which saw most candidates reducing their ground activities and face-to-face encounters with voters. Instead, the candidates boosted their online presence with videos and social media engagements in a bid to win votes, according to The Strait Times.

In addition, the government has also decided to temporarily lift quarantine rules to permit self-isolators to vote in the elections. Some 50,000 people in self-isolation who have no symptoms and expressed a willingness to vote will be allowed to cast ballots after the regular voting ends in the evening.