News Snapshot:
0 WASHINGTON – The International Monetary Fund (IMF) revised down its forecast for the Asian economy amid the mounting COVID-19 fallout, projecting a 1.6% contraction in 2020, reported the Xinhua News Agency. The latest projection is a downgrade from the projection of zero growth in April’s World Economic Outlook forecast, indicating stronger global headwinds as the pandemic’s impact continues to ripple throughout the world. “Projections for 2020 have been revised down for most of the countries in the [Asian] region due to weaker global conditions and more protracted containment measures in several emerging economies,†Chang Yong Rhee, a director of...
