{"id":23095,"date":"2020-06-08T05:46:17","date_gmt":"2020-06-08T05:46:17","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=23095"},"modified":"2020-06-08T05:46:19","modified_gmt":"2020-06-08T05:46:19","slug":"imf-reports-that-covid-19-pandemic-will-bring-asias-2020-growth-to-halt-for-1st-time-in-60-years","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/imf-reports-that-covid-19-pandemic-will-bring-asias-2020-growth-to-halt-for-1st-time-in-60-years\/","title":{"rendered":"IMF reports that COVID-19 pandemic will bring Asia’s 2020 growth to halt for 1st time in 60 years"},"content":{"rendered":"\n

The International Monetary Fund (IMF) in its report on the Asia-Pacific region stated that Asia’s economic growth in 2020 will grind to a halt <\/strong>for the first time in 60 years due to the COVID-19 pandemic.

Report Highlights:<\/u><\/strong>
\u2666 The IMF’s Asia and Pacific Department directed the policymakers to offer targeted support to households and firms hardest-hit by travel bans, social distancing policies and other measures aimed at containing the pandemic.
\u2666 IMF forecasted a 7.6% expansion in Asian economic growth in 2021 on the assumption that containment policies succeed. It also said that the outlook is highly uncertain.
\u2666 It also stated that The impact of the coronavirus on the region will be severe, across the board, and unprecedented.
\u2666 It suggested that the Asian countries need to use all policy instruments in their toolkits.
\u2666 Asia is set to fare better than other regions that suffered economic contractions. The projection is expected to be worse than the 4.7% average growth rate throughout the global financial crisis.

International Monetary Fund (IMF):<\/u><\/strong>
Formed on: <\/strong>27 December 1945
Headquarters: <\/strong>Washington, D.C., The US
Managing Director: <\/strong>Kristalina Georgieva
Chief Economist: <\/strong>Gita Gopinath
Membership: 189 countries
Official language: English
IMF promotes international monetary co-operation and facilitates international trade. It aims to foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties.<\/p>\n","protected":false},"excerpt":{"rendered":"

The International Monetary Fund (IMF) in its report on the Asia-Pacific region stated that Asia’s economic growth in 2020 will grind to a halt for the first time in 60 years due to the COVID-19 pandemic. Report Highlights:\u2666 The IMF’s Asia and Pacific Department directed the policymakers to offer targeted support to households and firms […]<\/p>\n","protected":false},"author":2,"featured_media":23096,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1012],"tags":[1010],"class_list":["post-23095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-april-2020","tag-covid-19"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/23095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=23095"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/23095\/revisions"}],"predecessor-version":[{"id":23097,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/23095\/revisions\/23097"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/23096"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=23095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=23095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=23095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}