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Following warnings and increased preparedness in the 2000s, the 2009 swine flu pandemic led to rapid anti-pandemic reactions amongst the Western countries. The H1N1/09 virus strain with mild symptoms and low lethality eventually led to a backlash over public sector over-reactiveness, spending, and the high cost of the 2009 flu vaccine.
At the annual meetings, the governors of the World Bank and IMF also meet in plenary sessions. Until the 2008 financial crisis, both the spring and annual meetings were preceded by meetings of the G7 finance ministers. Amid an unfolding global financial crisis, for the first time the 2008 annual meetings included a meeting of G20 finance ...
In late 2019, the IMF estimated global growth in 2020 to reach 3.4%, but due to the coronavirus, in November 2020, it expected the global economy to shrink by 4.4%. [72] [73] In March 2020, Kristalina Georgieva announced that the IMF stood ready to mobilize $1 trillion as its response to the COVID-19 pandemic. [74]
Talk of a recession is growing as coronavirus spreads in the U.S. But the "coronavirus recession" will be nothing like 2008.
The WHO warned of a potential "second wave" of COVID-19 infections in an update to its strategic advice to governments, as some European countries began to relax lockdown measures. [70] On 19 April, the Director-General of the WHO urged the G20 leading global economies to plan to ease lockdowns against COVID-19 only as part of "a phased process ...
The timeline of the COVID-19 pandemic lists the articles containing the chronology and epidemiology of SARS-CoV-2, [1] the virus that causes the coronavirus disease 2019 and is responsible for the COVID-19 pandemic. The first human cases of COVID-19 occurred in Wuhan, People's Republic of China, on or about 17 November 2019. [2]
A weekly update on the impact of the COVID-19 pandemic on the world economy, and on major individual economies such as the US, China, Japan, other Asian economies, Europe, Australia and New Zealand has been produced by Saul Eslake, one of Australia's best-known economists, since late April 2020. [256]
November 6, 2008: The IMF predicted a worldwide recession of −0.3% for 2009. On the same day, the Bank of England and the European Central Bank, respectively, reduced their interest rates from 4.5% to 3%, and from 3.75% to 3.25%. [160] November 10, 2008: American Express converted to a bank holding company. [161]