Syria’s Permanent Representative to the United Nations Bashar Jaafari denounced economic sanctions imposed by the US on his war-ravaged country as one of the daunting challenges the Damascus government faces on the path of reconstructing the country and bringing the Syrians’ life back to normal.
Australia has fallen into recession for the first time in three decades and Brazil's economy shrank by almost 10 percent because of the coronavirus, leaving China as the only major nation still recording economic growth during the pandemic.
The sudden resignation of Thailand’s finance minister for health reasons, less than a month into his term, creates more uncertainty for an economy already bracing for the deepest blow in Asia from the coronavirus pandemic.
US hiring slowed in July as the coronavirus outbreak worsened, and the government’s jobs report offered signs that the economic damage from the pandemic could last far longer than many observers originally envisioned.
Australia’s Treasurer Josh Frydenberg said the economy faces another significant hit after Victoria extended a lockdown across the whole state and placed its capital Melbourne under a nighttime curfew.
German Chancellor Angela Merkel has expressed fears that the people do not appreciate what this means for the doldrums in the “deepest recession since World War II”, as EU leaders clashed on a resumption of funds to the countries most affected by the coronavirus pandemic.
Two Federal Reserve officials sounded increasing pessimism on the swiftness of any economic recovery from the COVID-19 pandemic and warned the unemployment rate could rise again if the disease is not brought under control.
Malaysia said it would reopen nearly all economic activity and allow interstate travel starting June 10, lifting coronavirus restrictions imposed nearly three months ago as it moves to revive an economy battered by the pandemic.