IMF calls for 'urgent' action by India amid slowdown

News Network
December 24, 2019

Washington, Dec 24: India's government must take steps quickly to reverse the economic slowdown of an economy that has been one of the engines of global growth, the International Monetary Fund said Monday.

Declining consumption and investment, and falling tax revenue, have combined with other factors to put the brakes on one of the fastest growing economies in the world, the IMF said in its annual review.

After lifting millions out of poverty "India is now in the midst of a significant economic slowdown," Ranil Salgado, of the IMF Asia and Pacific Department, told reporters.

"Addressing the current downturn and returning India to a high growth path requires urgent policy actions."

However, the government has limited space to boost spending to support growth, especially given high debt levels and interest payments, the fund warned

IMF chief economist Gita Gopinath last week said India's slowdown had "surprised to the downside," and said the fund is set to significantly downgrade its growth estimates for the Indian economy in the World Economic Outlook which will be released next month.

The IMF in October slashed its forecast for 2019 by nearly a full point to 6.1 percent, while cutting the outlook for 2020 to 7.0 percent.

Salgado said India's central bank has "room to cut the policy rate further, especially if the economic slowdown continues."

The Reserve Bank of India (RBI) cut the key lending rate five times this year to a nine-year low, but at its last meeting earlier this month defied expectations by keeping policy unchanged.

The central bank slashed its annual growth forecast to 5 percent from 6.1 percent, as consumer demand and manufacturing activity contracts.

Salgado said "the government needs to reinvigorate the reform agenda," including restoring the health of the financial sector in order to "enhance its ability to provide credit to the economy."

Comments

Ahmed
 - 
Tuesday, 24 Dec 2019

Am Not point to all hindus but some hindus who think modi is leader for them....

 

please my dear brother think carefully...the person who lie time to time he is not good leader..

he is just using for his desire or some other desire..

when you dont have job, and empty pocket and your daughter ask for chocklet that time your relize what you have dont by supporting criminal and lier.

 

belive in RAM as leader bcoz he speak truth and thuthfull to his people...but not belive in Devil who say Lie for every second..

 

i hope our hindu brothers from mangalore will understand...

 

Suresh SS
 - 
Tuesday, 24 Dec 2019

Modi will bring India to the worst situation and people will starve to death all RSS Goondas to eat cowdung

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 9,2020

Jun 9: The World Health Organization says it still believes the spread of the coronavirus from people without symptoms is “rare,” despite warnings from numerous experts worldwide that such transmission is more frequent and likely explains why the pandemic has been so hard to contain.

Maria Van Kerkhove, WHO''s technical lead on COVID-19 said at a press briefing on Monday that many countries are reporting cases of spread from people who are asymptomatic, or those with no clinical symptoms.

But when questioned in more detail about these cases, Van Kerkhove said many of them turn out to have mild disease, or unusual symptoms.

Although health officials in countries including Britain, the U.S. and elsewhere have warned that COVID-19 is spreading from people without symptoms, WHO has maintained that this type of spread is not a driver of the pandemic and is probably accounts for about 6 per cent of spread, at most.

Numerous studies have suggested that the virus is spreading from people without symptoms, but many of those are either anecdotal reports or based on modeling.

Van Kerkhove said that based on data from countries, when people with no symptoms of COVID-19 are tracked over a long period to see if they spread the disease, there are very few cases of spread.

“We are constantly looking at this data and we''re trying to get more information from countries to truly answer this question,” she said. “It still appears to be rare that asymptomatic individuals actually transmit onward.”

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 6,2020

Beijing, Jul 6: A city in northern China on Sunday sounded an alert after a suspected case of bubonic plague was reported, according to official media here.

Bayannur, Inner Mongolia Autonomous Region, announced a level III warning of plague prevention and control, state-run People’s Daily Online reported.

The suspected bubonic plague case was reported on Saturday by a hospital in Bayannur. The local health authority announced that the warning period will continue until the end of 2020.

"At present, there is a risk of a human plague epidemic spreading in this city. The public should improve its self-protection awareness and ability, and report abnormal health conditions promptly,” the local health authority said.

On July 1, state-run Xinhua news agency said that two suspected cases of bubonic plague reported in Khovd province in western Mongolia have been confirmed by lab test results.

The confirmed cases are a 27-year-old resident and his 17-year-old brother, who are being treated at two separate hospitals in their province, it quoted a health official as saying.

The brothers ate marmot meat, the health official said, warning people not to eat marmot meat.

A total of 146 people who had contact with them have been isolated and treated at local hospitals, according to Narangerel.

Bubonic plague is a bacterial disease that is spread by fleas living on wild rodents such as marmots. It can kill an adult in less than 24 hours if not treated in time, according to the World Health Organization (WHO).

A couple died of bubonic plague in the western Mongolian province of Bayan-Ulgii last year after eating raw marmot meat.

The news of bubonic plague came after Chinese researchers issued an early warning over another potential pandemic caused by an influenza virus in pigs.

Scientists from China Agricultural University, the Chinese Centre for Disease Control and Prevention and other institutes detected a pig influenza virus bearing genotype 4 (G4), which is contagious among pigs and has the possibility of jumping to humans, as the G4 virus is able to bind with human cells, state-run Global Times reported last week.

The researchers are concerned that it could mutate further so that it can spread easily from person to person, and trigger a global outbreak, BBC reported.

"Controlling the prevailing G4 EA H1N1 viruses in pigs and close monitoring in human populations, especially workers in the swine industry, should be urgently implemented," Chinese researchers warned in the paper.

The new diseases were reported even as China grappled with the second attack of Covid-19 in Beijing after controlling it in Wuhan where it was first reported in December last year.

On Saturday, Beijing reported a single-digit Covid-19, local authorities said Sunday.

The number of newly confirmed Covid-19 cases reached a peak in Beijing on June 13 and 14 and then started declining in general, Xinhua quoted local officials as saying.

From June 11 to July 4, the city reported 334 confirmed locally transmitted cases, 47 per cent of whom are workers of the Xinfadi wholesale food market, the official said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 6,2020

Mar 6: UK stocks fell again on Friday as growing economic risks from the coronavirus outbreak shattered investor confidence, with Britain recording its first death from the pathogen.

A 1.5% fall for the FTSE 100 erased the blue-chip index's gains from earlier this week. Export-heavy companies have now lost over $230 billion in value since the epidemic sparked a worldwide rout last week.

The domestically focussed mid-cap index was down 1.9%.

Cruise operator Carnival dropped 4.2% to its lowest level since 2012, a day after its Grand Princess ocean liner was barred from returning to its home port of San Francisco on virus fears.

Britain said an older person with underlying health problems had succumbed to the flu-like virus on Thursday, while the number of infections jumped to 115.

In company news, drug maker AstraZeneca fell 1% after it said its treatment for a form of bladder cancer failed to meet the main goal of improving overall survival in patients in a late-stage study.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.