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WASHINGTON: Some countries' banking systems might have to be recapitalised or even restructured if their economies are severely damaged by prolonged disruption from the coronavirus outbreak, officials at the International Monetary Fund said on Tuesday.
KUALA LUMPUR: Bank Negara’s international reserves totalled US$103.39bil (RM444.10bil) as at end-February 2020, said the central bank.
KUALA LUMPUR: The FBM KLCI started Monday on a lighter footing as it snapped four-days of gains following the IMF's declaration that the coronavirus pandemic had triggered a global recession.
WASHINGTON: The coronavirus has already driven the global economy into recession and countries must respond with "very massive" spending to avoid a cascade of bankruptcies and emerging market debt defaults, the head of the International Monetary Fund warned on Friday.
RIYADH: Leaders of the Group of 20 major economies pledged on Thursday to inject US$5 trillion (4.1 trillion pounds) in fiscal spending into the global economy to blunt the economic impact of the coronavirus and "do whatever it takes to overcome the pandemic."
RIYADH/DUBAI: A dozen countries in the Middle East and Central Asia have asked the International Monetary Fund for financial support in dealing with the coronavirus, and the Kyrgyz Republic is likely to receive the first emergency disbursement, the fund said.
For much of the world, oil wealth is a curse. Endowed with ample reserves of hydrocarbons, the likes of Nigeria, Angola, Kazakhstan, Mexico and Venezuela frittered the benefits away.
As Covid-19 outbreak has worsened and spread fast, conglomerates in Malaysia and the region are seeking ways to mitigate the adverse impact on their business.
KARACHI: Pakistan's central bank on Tuesday cut its key interest rate by 75 bps to 12.50%, the first reduction in four years, citing a global slowdown to ease inflationary pressure.