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Added on the 08/04/2020 17:25:01 - Copyright : AFPTV - First images
The World Trade Organization on Wednesday dramatically lowered its global trade forecast for 2023, as Russia's war in Ukraine and other shocks take their toll on the world economy. 'Today the global economy faces multi-prong crises. Monetary tightening is weighing on growth across much of the world,' WTO Director-General Ngozi Okonjo-Iweala told reporters in Geneva. SOUNDBITE
Dubai's Expo-2020 opens for visitors, during which the United Arab Emirates hopes to welcome about 25 million guests, as it is considered the first universal exhibition held in the Middle East and the largest event globally since the start of the Covid-19. pandemic. IMAGES
Ngozi Okonjo-Iweala, new World Trade Organization's director general, arrives at the WTO's headquarters for her first in day in office. She is the first woman and first African to lead the WTO. IMAGES
Optimism that new vaccines will bring the pandemic under control and allow economic activity to resume coupled with stimulus in major economies has boosted the growth forecast this year to 5.5 percent, the IMF says in its latest World Economic Outlook. SOUNDBITE
The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4 percent, the IMF says in its latest World Economic Outlook. "This upgrade owes to somewhat less dire outcomes in the second quarter, as well as signs of a stronger recovery in the third quarter, offset partially by downgrades in some emerging and developing economies," IMF chief economist Gita Gopinath says. SOUNDBITE
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