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IMF sees coronavirus-induced global downturn ‘way worse’ than financial crisis WASHINGTON/GENEVA – The coronavirus pandemic has brought the global economy to a standstill and plunged the world into a recession that will be “way worse” than the global financial crisis a decade ago, the head of the International Monetary Fund said on Friday, calling it “humanity’s darkest hour.” The IMF’s managing director, Kristalina Georgieva, speaking at a rare joint news conference with the leader of the World Health Organization (WHO), called on advanced economies to step up their efforts to help emerging markets and developing countries survive the economic and...

Lifting of lockdown after 14 April depends on how people comply with norms: Uddhav Mumbai: Maharashtra Chief Minister Uddhav Thackeray on Saturday said that lifting of lockdown in the state after April 14 will depend upon the compliance by people to the government directives, two days after Prime Minister Narendra Modi hinted at a “staggered exit” from the curbs. In a webcast, the CM also warned of strict action against those who spread communally divisive messages on social media amidst rising cases of COVID-19 in various states. He reiterated that no permission will be granted to religious or sporting events in...

1,023 COVID-19 positive cases with links to Tablighi Jamaat reported from 17 States: Health Ministry As many as 1,023 COVID-19 positive cases found in 17 States have been traced to the Tablighi Jamaat congregation, the Union Health Ministry said on April 4, underlining that about 30% of the total coronavirus cases in the country are linked to “one particular place”. Joint Secretary in the Ministry Lav Agarwal said in the daily media briefing that the rate of doubling of COVID-19 cases in India is pretty less as compared to other countries. He said a total of 2,902 COVID-19 cases have been reported...

Roger Federer: I will play Halle next year Swiss Roger Federer, 38, has confirmed that he is planning to play in Halle next year. On Wednesday, the ATP and WTA extended the tours suspension through to July 13 due to the coronavirus outbreak. The Noventi Open in Halle was scheduled to take place from June 15-21. Record 20-time Grand Slam champion Federer was expected to headline this year’s Halle player field. “We experience difficult times, however, we will arise from it strengthened,” Federer said in a statement released on the tournament’s website. Source: Tennis World

Lewis of ‘DLS method’ fame passes away Tony Lewis, one of the men behind the Duckworth-Lewis-Stern (DLS) method used in weather-affected limited-overs matches, has died aged 78, the England and Wales Cricket Board announced on Wednesday. It is with much sadness that the ECB has learned of the passing of Tony Lewis MBE, aged 78,” said a statement. “Tony, alongside fellow mathematician Frank Duckworth, devised the Duckworth-Lewis method which was introduced in 1997 and adopted officially by the ICC (International Cricket Council) in 1999. Source: The Hindu

PM reaffirmed my belief that we can’t let our guard down after April 14: Sachin Tendulkar NEW DELHI: The iconic Sachin Tendulkar on Friday said managing the period after April 14 would be crucial to how India fares in its battle against the COVID-19 pandemic, a belief which was shared by Prime Minister Narendra Modi during a video conference with sportspersons. Tendulkar was among the 40-odd elite sportspersons with whom the PM had a one hour video call to discuss the prevailing situation which has claimed more than 50 lives in India with 2000 plus positive cases. The country is...

Mental health also important during lockdown: Rahane India’s Test vice-captain Ajinkya Rahane on Friday highlighted the importance of mental health in times of distress, lauding the Maharashtra government for its effort in the cause as the state and country battles the coronavirus pandemic. “Mental health is also important during this lockdown. Highly appreciate the efforts of Maharashtra Government, BMC & power for creating a free helpline to support people for their mental well-being,” Rahane said in a tweet with a helpline number. Source: Hindustan Times

This may be the end of Reagan-Thatcher libertarian wave, says American economist Larry Summers Larry Summers, former Chief Economist at World Bank, is optimistic about post-pandemic recovery prospects. In an interview with Vanity Fair, Summers said that even though the current economic scenario may be grim, the recovery may be faster than what most people expect. Talking about how bad the current healthcare crisis looks in terms of its economic implications, Summers says, “I think the peak to trough decline is overwhelmingly likely to be worse than anything I’ve seen by a significant margin. Something like a third of the workforce is...

Von der Leyen ‘concerned’ over Hungary virus emergency law While saying EU countries may need extraordinary measures to tackle the pandemic, she added: “I am concerned that certain measures go too far – and I’m particularly concerned with the situation in Hungary.” Hungary’s parliament, dominated by Orbán’s ruling party, handed the prime minister the power from Tuesday to rule by decree until his government decides the virus crisis is over. The emergency law also threatens journalists with prison if they publish “falsehoods” about the virus or the government’s actions to slow it. On Thursday Hungarian government spokesman Zoltán Kovács sharply...

Jair Bolsonaro Says Brazil Cannot Take Months of Lockdown Due to COVID-19 President Jair Bolsonaro said on Friday that Brazilian society will not be able to stand two or three months of shutdowns to fight the new coronavirus, denouncing social-distancing measures enforced by states and municipalities across the country. “You know my stance. It will bring massive unemployment,” he told supporters outside the presidential residence in Brasilia. Source: News18