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29th Mar 2024

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IMF: Global economy to lose €18 trillion due to coronavirus

The global economy is set to lose over €18 trillion between 2020 and 2025, due to the impacts of the coronavirus pandemic, the International Monetary Fund said on Tuesday, Deutsche Welle writes. The economy will likely see a strong rebound this year, but the pandemic is causing severe damage, the IMF said. The spread of vaccines, however, is expected to power a stronger global economic recovery in 2021.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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