Lakshmi Mittal, French govt strike deal over disputed Florange unit

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.

New Delhi, Mar 24: Reports of a person in China dying due to a virus called hantavirus have spread panic at a time when the world is battling the pandemic of novel coronavirus, which began in China.

The novel coronavirus has killed over 16,000 people around the world and the outbreak is yet to be brought under control.

This morning, hantavirus became one of the top trends on Twitter after the Chinese state media tweeted about one person in the country dying due the virus. However, it turns out, hantavirus is not a new virus and has been infecting humans for decades.

Global Times, a state-run English-language newspaper, wrote on Twitter on Tuesday, "A person from Yunnan Province died while on his way back to Shandong Province for work on a chartered bus on Monday. He was tested positive for hantavirus. Other 32 people on bus were tested."

Global Times's hantavirus report on Twitter has been shared over 6,000 times.

On Tuesday, hantavirus was one of the top trends on Twitter.

WHAT IS HANTAVIRUS?

Some people are calling it a new virus but so is not the case. United States's National Center for Biotechnology Information (NCBI) in a journal writes that currently, the hantavirus genus includes more than 21 species.

"Hantaviruses in the Americas are known as 'New World' hantaviruses and may cause hantavirus pulmonary syndrome [HPS]," CDC says. "Other hantaviruses, known as 'Old World' hantaviruses, are found mostly in Europe and Asia and may cause hemorrhagic fever with renal syndrome [HFRS]."

Any man, woman, or child who is around mice or rats that carry harmful hantaviruses can get HPS.

People get HPS when they breath in hantaviruses. This can happen when rodent urine and droppings that contain a hantavirus are stirred up into the air. People can also become infected when they touch mouse or rat urine, droppings, or nesting materials that contain the virus and then touch their eyes, nose, or mouth. They can also get HPS from a mouse or rat bite.

In the US, 10 confirmed cases of hantavirus infection in people who visited Yosemite National Park in California, US, in November 2012, were reported. Similarly, in 2017, CDC assisted health officials in investigating an outbreak of Seoul virus infection that infected 17 people in seven states.

WHAT ARE THE SYMPTOMS OF HANTAVIRUS?

If people get HPS, they will feel sick one to five weeks after they were around mice or rats that carried a hantavirus.

At first people with HPS will have:

Fever
Severe muscle aches
Fatigue

After a few days, they will have a hard time breathing. Sometimes people will have headaches, dizziness, chills, nausea, vomiting, diarrhoea, and stomach pain.

Usually, people do not have a runny nose, sore throat, or a rash.

Washington, May 30: The United States will end its relationship with the World Health Organization over the body’s handling of the coronavirus pandemic, U.S. President Donald Trump said on Friday, accusing the U.N. agency of becoming a puppet of China.

The move to quit the Geneva-based body, which the United States formally joined in 1948, comes amid growing tensions between Washington and Beijing over the coronavirus outbreak. The virus first emerged in China’s Wuhan city late last year.

Speaking in the White House Rose Garden, Trump said Chinese officials “ignored their reporting obligations” to the WHO about the virus - that has killed hundreds of thousands of people globally - and pressured the agency to “mislead the world.”

“China has total control over the World Health Organization despite only paying $40 million per year compared to what the United States has been paying which is approximately $450 million a year,” he said.

Trump’s decision follows a pledge last week by Chinese President Xi Jinping to give $2 billion to the WHO over the next two years to help combat the coronavirus. The amount almost matches the WHO’s entire annual program budget for last year.

Trump last month halted funding for the 194-member organization, then in a May 18 letter gave the WHO 30 days to commit to reforms.

“Because they have failed to make the requested and greatly needed reforms, we will be today terminating our relationship with the World Health Organization and redirecting those funds to other worldwide and deserving urgent global public health needs,” Trump said on Friday.

It was not immediately clear when his decision would come into effect. A 1948 joint resolution of Congress on U.S. membership of the WHO said the country “reserves its right to withdraw from the organization on a one-year notice.”

The World Health Organization did not immediately respond to a request for comment on Trump’s announcement. It has previously denied Trump’s assertions that it promoted Chinese “disinformation” about the virus.

“It’s important to remember that the WHO is a platform for cooperation among countries,” said Donna McKay, executive director of Physicians for Human Rights. “Walking away from this critical institution in the midst of an historic pandemic will hurt people both in the United States and around the world.”

‘ABSOLUTELY CRITICAL’

The United States currently owes the WHO more than $200 million in assessed contributions, according to the WHO website. Washington also gives several hundred million dollars annually in voluntary funding tied to specific WHO programs such as polio eradication, HIV, hepatitis and tuberculosis.

Amesh A. Adalja, a senior scholar at Johns Hopkins Center for Health Security, said that in practice Trump’s decision was unlikely to change the operations of the WHO.

“From a symbolic or moral standpoint it’s the wrong type of action to be taking in the middle of a pandemic and seems to deflect responsibility for what we in the U.S. failed to do and blame the WHO,” said Adalja.

When Trump halted funding to the WHO last month, two Western diplomats said the U.S. suspension was more harmful politically to the WHO than to the agency’s current programs, which are funded for now.

The WHO is an independent international body that works with the United Nations. U.N. Secretary-General Antonio Guterres said last month that the WHO is “absolutely critical to the world’s efforts to win the war against COVID-19.”

When asked about Trump’s decision, a U.N. spokesman said: “We have consistently called for all states to support WHO.”

Trump has long scorned multilateralism as he focuses on an “America First” agenda. Since taking office, he has quit the U.N. Human Rights Council, the U.N. cultural agency, a global accord to tackle climate change and the Iran nuclear deal. He has also cut funding for the U.N. population fund and the U.N. agency that aids Palestinian refugees.

“The WHO is the world’s early warning system for infectious diseases,” said U.S. Representative Nita Lowey, a Democrat who chairs the House Committee on Appropriations. “Now, during a global pandemic that has cost over 100,000 American lives, is not the time to put the country further at risk.”