New Events

International

no events posted in last week

Blog Feeds

Anti-Empire

Anti-Empire

offsite link “Mainstream” Is a Misnomer, What You... Mon Nov 30, 2020 07:00 | Marko Marjanović

offsite link Regime Media: Joe Biden’s Dogs Have To... Mon Nov 30, 2020 01:12 | Tim Teeman

offsite link French Police Beat Black Man for 15 Minu... Sun Nov 29, 2020 20:49 | Tyler Durden

offsite link German Defense Minister Says Necessary t... Sun Nov 29, 2020 15:23 | Anti-Empire

offsite link Offering a ‘Return to Normalcy,’ Bid... Sun Nov 29, 2020 13:30 | 29ReasonsWhy

Anti-Empire >>

The Saker
A bird's eye view of the vineyard

offsite link The AngloZionists are trying to provoke a war with Iran Sat Nov 28, 2020 20:36 | The Saker
There is really nothing particularly complicated about what just happened: the AngloZionists have murdered a top Iranian scientist in the hope that this murder will trigger a war. The Iranians

offsite link NATO ? A Comatose Body Whose ?Mission? Seems To Be Little More Than To Preserve And Expand Itself... Sat Nov 28, 2020 18:16 | amarynth
By Francis Lee for the Saker Blog PART 1. In 1851, France had the misfortune to fall victim to a coup by the nephew of Napoleon Bonaparte, Charles-Louis Napolon Bonaparte,

offsite link Moveable Feast Cafe 2020/11/28 ? Open Thread Sat Nov 28, 2020 17:00 | Herb Swanson
2020/11/28 17:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link War Ended, But Armenia Still Suffers Losses. Azerbaijani Troops Enter Largest Armenian Gold Mine Fri Nov 27, 2020 18:30 | amarynth
South Front This week, the Armenian leadership has reached an unprecedented height in its state management achievements. Prime Minsiter Nikol Pashinayan and his government did not stop at the successful

offsite link Meet the new boss! Fri Nov 27, 2020 17:39 | The Saker

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link David Quinn’s selective tolerance

offsite link A Woulfe in judges clothing Anthony

offsite link Sarah McInerney and political impartiality Anthony

offsite link Did RTE journalists collude against Sinn Fein? Anthony

offsite link Irish Examiner bias Anthony

Public Inquiry >>

Spirit of Contradiction

offsite link The Party and the Ballot Box Sun Jul 14, 2019 22:24 | Gavin Mendel-Gleason

offsite link On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan

offsite link What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith

offsite link The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith

offsite link Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh

Spirit of Contradiction >>

IMF Calls "Great Lockdown" Worst Economic Crisis Since the Great Depression

category international | economics and finance | news report author Tuesday April 14, 2020 21:54author by Kate Zeller - Jubilee USA Network Report this post to the editors

The IMF says we face the worst economic crisis since the Great Depression because of the coronavirus.

The IMF says we face the worst economic crisis since the Great Depression because of the coronavirus. As world leaders gather virtually for the Spring International Monetary Fund and World Bank Meetings, the Fund released its April World Economic Outlook Report, dubbing the crisis, the "Great Lockdown" and reporting that the global economy will lose at least $9 trillion in 2020 and 2021.

"This is the most frightening news the Fund has ever released on the status of our global economy," noted Jubilee USA Executive Director Eric LeCompte, who tracked IMF meetings and reports since the 2008 financial crisis. LeCompte's organization detailed a financial crisis plan to the IMF on March 23rd. "When you analyze what the IMF is actually saying, the message is things could even get worse and they really don't know how bad it can actually get."

The IMF report forecasts that if "lockdowns" and the spread of the virus becomes more limited in the Fall, we could see economic growth for some countries in 2021. However, those growth projections would already be below previous IMF 2021 growth projections.

The IMF report forecasts the economy will contract 3% in 2020 before coronavirus containment policies can be gradually loosened, with economic growth of 5.8% predicted as the economy stabilizes.

Over the next three days, the G7, G20, IMF and World Bank will meet to determine solutions to deal with the growing crisis.

"Urgent action is required by the IMF and G20 this week," stated LeCompte, a United Nations finance expert. "During the meetings this week world leaders must move forward aid, financing and debt relief for developed and developing countries so people can survive the devastating health and economic impacts of the coronavirus crisis."

© 2001-2020 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy