Asian Development Bank (Photo: Internet)
The deadly coronary virus is currently spread to 5 countries. The virus has been infected with 2 lakh 23 thousand 227 people and died 5,222. In such a situation, the Asian Development Bank (ADB) has announced a $ 1 million package for member countries to combat the virus.
The president of the organization Masasugu Ashakawa said this in a statement last Wednesday (March 7).
“The corona virus has become a global crisis,” he said. To prevent this, steps need to be taken at the national, regional and international levels. For this, we have announced a package of $ 1 million to fight the virus of developing member countries. ADB is ready to provide even more money after this package.
Hotels, restaurants, airlines are shutting down in the wake of the outbreak of the Corona virus. In this situation, economists say the global recession is no longer a threat. Because the recession has begun. In January and February, China's economy is down. It is also less likely that they will be able to recover from this loss very quickly.
Central banks in Europe and North America are taking drastic measures to curb the outbreak of the Corona virus epidemic. Despite the collapse of financial markets around the world, Asia is still not alarmed. Many experts say in this situation, the global economy has started to shrink.
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David Wilcox, a former head of the Federal Reserve's research and statistics division at the US central bank, said, “The reason for that was the uncertainty over whether the global economy was heading into recession. But after 5 days, there is no question that the situation is going towards him. '
The situation has changed rapidly in the last 3 weeks. The number of people infected with the virus is increasing every day. Defensive measures are being taken in countries. The masses have been shut down. These are the major setbacks for the economy. Especially when the impact is clear on the Chinese economy, things are starting to become clearer in all respects.
OD / AYR