The world cannot allow India to become the next coronavirus epicenter: WB

The world cannot allow India to become the next coronavirus epicenter: WB

Date:

The world cannot allow India to become the next coronavirus epicenter: WB

Washington: The world cannot allow India to become the next coronavirus epicenter, said the World Bank’s country director for India, Junaid Ahmad.

Prime Minister Narendra Modi extended the country’s 21-day nation-wide lockdown on Tuesday, the same day those restrictions were supposed to be lifted. Most commercial and private establishments that are not designated as essential services will remain closed until May 3, Modi announced. Some areas could be allowed to partially open up after April 20, but with caveats.

“Governments around the world having to slow down the economy to give a chance for the health sector to recuperate,” Ahmad told media before India extended its lockdown. “I think that’s a very big difference in the way governments have been intervening.”

He explained that as a result of the slowdown, governments and India, in particular have taken steps to protect vulnerable members of society and safeguard sectors in their countries through a combination of fiscal and monetary mechanisms. The world is “bracing for probably the worst recession since the post-war era,” Ahmad said.

Share post:

Subscribe

Popular

More like this
Related

Finland Backs India on Russian Oil Purchases, Jaishankar Says ‘Cost and Availability Matter’

India's purchase of Russian oil received unexpected support from...

What Is GDP and Why Does It Matter? Explained Simply

Every time India's economy grows or slows down, one...

PM Modi Becomes India’s Longest-Serving Prime Minister Since Constitution Came Into Force

Prime Minister Narendra Modi achieved a major political milestone...

Nominal GDP vs Real GDP: What’s the Difference?

GDP is one of the most widely used indicators...