Recession is considered to be the worst economic downturn since the 1929 great depression. Im Richelle Carey and as covered 19 measures halt International Trade shut down airports and bankrupt businesses tens of millions of people have lost their jobs and for many being unemployed in the middle of a pandemic means not only losing their income but it also means losing access to health care so how can governments protect their workers and rebuild their economies the director general of the International Labor Organization Guy Ryder talks to al jazeera. Mr guy writer director general of the International Labor organization thank you so much for your time it has been said that we are all and this together but we are not this pandemic does not affect everyone the same as a condom is started to to shut down country after country africa. What was your immediate thought about what this would mean for for workers for laborers well i think absolutely right in what you say we are all in this toge
Two million for the nante straight week. And the fed could hold further guidance until the fall. B. O. J. Upped the board for Small Businesses. The question you may be asking yourself in the market today is where the focus will shift in todays session from reopening to escalation. Hong kong very much the focus over the abandonment of the growth target for this year which was widely anticipate. The central bank that we learned overnight is india unexpectedly cutting rates with g. D. P. Set to shrink. We had that note from goldman talking about the worst recession ever in the Second Quarter for india. Weve got a 40basispoint rate cut to 4 from india today. Little bit of weakness in the rupee. In terms of the broader market, youre seeing the hang seng lead those losses in asia there is red on the screen across asian markets. Also u. S. And european futures pointing to a lower open. A clear risk coming through today. The 10year treasury yield drops by three basis points toward the 64 and o
The great is slowing rate is slowing in the u. S. The virus is not helping australia and if barley has become a new flashpoint. Shery lets see how asia is shaping up. Sophie after a choppy week for asian stocks with the msci aipac index snapping a twoweek advance, futures are mixed but mostly lower going into chinas npc. Japan as well as thailand are going to publish First Quarter gdp numbers. Japan may have fallen into a recession through the yen trading steady ahead of the Asset Managers steady. The Asset Managers have boosted it five straight weeks. We will get policy decisions from thailand and indonesia when bets are raising that major Central Banks could be forced to embrace a good of rates. Theble under pressure after chief economist of the option of subzero rates was being considered among other unconventional policy tools for lets look at oil policy tools. Lets look at oil. Seeing brent gaining ground and of uti adding 2 after wti adding 2 ahead of the june contract expiring o
Family of these he story setbacks and does job only have what it takes to beat. Special coverage just a. Little to. See. The coronavirus pandemic has changed the way we live our lives nearly every country in the world has been affected millions of infections hundreds of thousands of deaths and most scientists work on developing a vaccine governments are focusing on reducing the number of infections through social distancing and other preventative measures but these restrictions have brought with them countless financial losses across the globe. The coronavirus recession is considered to be the worst economic downturn since the 1929 great depression. Im Richelle Carey and as covered 1000 measures halt International Trade shut down airports and bankrupt businesses tens of millions of people have lost their. And for many being unemployed in the middle of a pandemic need to not only losing their income but it also means losing access to health care so how can governments protect their work
A bigger share of indonesias multibillion dollar finance industry. May 1st was an important day for the worlds poorest nations it was the day that the rich club of g. 20 nations gave debtors a payment holiday until the end of the year the hope is that debtor nations can use the money to pay for health care during the pandemic despite more than 100 countries applying to the International Monetary fund for emergency aid the i. M. F. And world bank havent been so generous insisting that nations keep paying interest on debt although the i. M. F. Has offered some relief to 25. 00 poor nations which amounts to 200000000. 00 which lets face it isnt that much of nations really do need help nigeria has received 3 point 4000000000. 00 from the i. M. F. With debts of only 30 percent of g. D. P. Youd think the country couldnt get into trouble but its dependent upon oil for 90 percent of its export earnings with crude prices cratering it has little room to service its debt which is estimated to tak