Global recession looms large

London/Washington, april 9

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World powers scrambled on Thursday to build a global response to the human tragedy and once-in-a-century economic collapse caused by the coronavirus epidemic, as death tolls in the US and Europe soared higher.

In a locked-down New York, the UN Security Council was to meet on the pandemic for the first time. And, by video conference, EU finance ministers are wrangling over how to bail out their worst hit members Italy and Spain.

“We anticipate the worst economic fallout since the Great Depression,” said IMF chief Kristalina Georgieva, warning that all but a handful of countries will see incomes fallShe also said, “over 170 countries will experience negative per capita income growth this year.” Georgieva made the remarks during her address on “:Priorities for the Global Economy” ahead of next week’s annual Spring meeting of the International Monetary Fund (IMF) and the World Bank.

Meanwhile, a report by Nairobi-based charity Oxfam claimed that the pandemic could push around half a billion people into poverty. The report released ahead of next week’s IMF/World Bank annual meeting calculated the impact of the crisis on global poverty due to shrinking household incomes or consumption.

According to the report under the most serious scenario the number of people living in extreme poverty would rise by 434 million people to nearly 1.2 billion worldwide. The same scenario would see the number of people living below the $5.50 a day threshold rise by 548 million people to nearly 4 billion.

Meanwhile, the grim pandemic scenario continued all across the world as the total number of infected soared past 1.5 million with more than 90,000 deaths. The US recorded nearly 2,000 coronavirus deaths for a second consecutive day, taking the total toll to 14,817, the second highest in the world after Italy which has 17,669 fatalities. More than half of the deaths in the US were concentrated in the New York area, including the states of New York, New Jersey and Connecticut.

In Europe, Spain reported a slight drop in deaths, after a two-day uptick. However, the number of confirmed coronavirus cases in the Netherlands rose by 1,213 to 21,762, health authorities said, with 148 new deaths. Germany, however, has managed to flatten the curve due to restrictions on public life, Health Minister Jens Spahn said.

The pandemic is marching into areas previously only lightly affected. Africa faces vast economic damage, with the World Bank warning that sub-Saharan Africa could slip into its first recession in a quarter of a century. — Agencies

Ramadan events in Iran may stop

Tehran: Iran’s supreme leader suggested Thursday that mass gatherings in the Islamic Republic may be barred through the holy Muslim fasting month Ramadan amid the pandemic. Today 117 new deaths were reported.

Swiss death toll rises to 756

The Swiss death toll from the Covid-19 has reached 756, the country’s public health agency said, rising from 705 persons on Wednesday. The number of positive tests also increased to 23,574 people from 22,789.

Russia’s tally surpasses 10,000

Moscow: Russia on Thursday reported a record one-day rise of 1,459 new cases of coronavirus, pushing its national case total to 10,131. The number of coronavirus-related deaths rose by 13 to 76, the national coronavirus crisis response centre said.

107-yr-old Dutch woman oldest to survive

Amsterdam: A 107-year old Dutch woman has recovered from the coronavirus, probably becoming the oldest survivor of the pandemic in the world. Cornelia Ras fell ill on March 17, the day after her 107th birthday. Reuters

Pandemic no ‘blank cheque’ to flout human rights, says United Nations

Geneva: The coronavirus crisis is not a “blank cheque”

to flout civil liberties, the UN human rights commissioner warned on Thursday as she criticised some states’ adoption of “unlimited” emergency powers. “Emergency measures may well be needed to respond to this public health emergency. But an emergency situation is not a blank cheque to disregard human rights obligations,” said Michelle Bachelet.

Pak PM fears the worst

Islamabad: Urging people to maintain social distancing to prevent the spread of the novel coronavirus, Pakistan Prime Minister Imran Khan has warned that the situation in the country due to the pandemic could worsen in the days to come. PTI

UK PM improving, but still in intensive care

• Prime Minister Boris Johnson had a good night and is getting better four days after being admitted to hospital, but he remains in intensive care as his government reviews the most stringent shutdown in Britain’s peacetime history
• He is still receiving oxygen support, although he has not been put on a ventilator, said his spokesman

Merkel says no to ‘coronabonds’

• Chancellor Angela Merkel on Thursday rejected demands by Italy for common euro zone bonds to mitigate the economic impact of the coronavirus pandemic, adding that Germany would back other instruments to help countries hard-hit by the crisis.
• “I spoke today with Italian Prime MInister Giuseppe Conte for a long time and we agree that there is an urgent need for solidarity in Europe, which is going through one of its most difficult hours, if not the most difficult,” Merkel said.