Skip to main content
Tag

Economics

A fruit vendor waiting for customers during lockdown in Prayagraj, India. About 2 billion people worldwide work in the informal economy

Half of world’s workers ‘at immediate risk of losing livelihood due to coronavirus’

By COVID-19 (Coronavirus), News & Current Affairs

By Phillip Inman, The Guardian — Almost half the global workforce – 1.6 billion people – are in “immediate danger of having their livelihoods destroyed” by the economic impact of Covid-19, the International Labour Organization has warned. Of the total global working population of 3.3 billion, about 2 billion work in the “informal economy”, often on short-term contracts or self-employment, and suffered a 60% collapse in their wages in the…

Read More
Tourists wearing mask on an empty street during COVID 19 pandemic lockdown in Singapore. Bars are closed.

World Bank sees plunge in Latin America, Caribbean economies

By COVID-19 (Coronavirus), News & Current Affairs

The World Bank says that the new coronavirus pandemic could send economies tumbling by 4.6% this year across Latin America and the Caribbean, and that could force governments to take ownership stakes in struggling major businesses. By John Rice, AP — The new coronavirus pandemic could send economies tumbling by 4.6% this year across Latin America and the Caribbean, forcing governments to take ownership stakes in struggling…

Read More