Global Economy Current Affairs - 2020

G7 summit postponed; To be expanded as G10 or G11

The US President Donald Trump recently announced that the USA is postponing the G7 summit to September 2020. Also, President Trump intends to expand the G7 group to G10 or G11. On June 2, 2020, US  President Trump invited Indian PM Modi to the G7 summit through telephonic conversation. The Leaders discussed India-China recent Stand Read More…

International Monetary Fund predicts India’s Growth Rate at 1.9%

Following the World that set India’s Growth rate between 1.5% and 2.8%, the International Monetary Fund has set growth rate of India at 1.9%. On April 14, 2020, the IMF released its report predicting growth rate of the country at 5.8%. Highlights IMF also says that the India will recover at the growth rate of Read More…

IMF: Recession due to COVID-19 to be worse than 2009

On March 24, 2020, the International Monetary Fund announced that the recession to be caused due to Corona Virus is to be worse than the 2009. IMF has specifically warned the G20 nations that the current economic outlook is towards negative. The G20 nations are to hold a virtual summit in a week to come Read More…

In-Person G7 Summit Cancelled; To be held through Video-Conferencing

The US President Donald Trump has cancelled an in-person G7 Summit and is to conduct the summit through video conferencing. This is being done due to the increasing threat of Corona Virus. What is G7? The G7 organization is made up of the largest economies of the world namely France, Canada, US, UK, Italy, Japan Read More…

UNCTAD: India among 15 countries economically affected due to Corona Virus

The United Nations Conference on Trade and Development recently released a report on the effect of COVID-19 on global economy. According to the report, India was ranked 10th. World: Key Findings of the Report The report says that the slow down in manufacturing sector of China due to the virus, will affect 50 billion USD Read More…