KATHMANDU, Aug 7: At a time when the country is facing economic recession, the government has doled out financial aid worth Rs 27.5 million in two months. According to the decision of the Council of Ministers, the amount worth Rs 3.5 million in mid-May and Rs 24 million in mid-July was distributed under the name of financial assistance.
The government's decision to dole out Rs 200,000 each to disqualified ex-Maoist combatants during a time of economic recession is not only unjustifiable but also a gross injustice to the citizens of Nepal. This reckless move will add an unnecessary financial burden on the already strained state treasury.
NAIROBI, April 9: The rapidly-spreading coronavirus outbreak is expected to push sub-Saharan Africa into recession in 2020 for the first time in 25 years, the World Bank said in a new forecast on Thursday.
Humanity is under a constant threat of calamity even though humans think that they are the most intellectual beings on earth. Apart from natural disasters, famines and economic recession, we are exposed to the biological threats of deadly viruses time and again. As we are struggling to keep ourselves away from coronavirus, we should not forget the outbreaks of smallpox, bubonic plague, Anthrax, SARS, H1N1, Zika and EBOLA.
Global merchandize trade has experienced slowdown after 2011 which is mainly attributed to the economic recession of 2009-10 and the drop in the prices of fuels and minerals in the ensuing years. The situation got aggravated as the US government made a big shift in its trade policy after 2016, introducing the element of protectionism under the banner of ‘make America great again.’
BUENOS AIRES, July 4: Argentine soccer club River Plate opened the doors of its Monumental stadium on Wednesday to give shelter to people living on the streets, as temperatures fell during the Southern Hemisphere winter and a biting economic recession exacerbates poverty in the South American country.