Posted on Wed 7 Oct 2020, 12:38 PM

Global trade, devastated by the coronavirus crisis, will shrink by less than expected this year but the rebound will also be much weaker than previously forecast, the WTO said Tuesday.

Revising its prior “optimistic scenario” forecast of at least a 12.9-percent contraction in 2020, the World Trade Organization said it now expected global trade to shrink by just 9.2 percent this year.

But it will then grow by only 7.2 percent next year, rather than the previous 21.3 percent estimate issued in April, the WTO added.

Posted on Fri 26 Jun 2020, 08:26 AM

By Femi Adesina

Something good is already happening. Something marvelous is in store, as Federal Government kickstarts the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) National Gas Pipeline Project next Tuesday. It’s another humongous signature milestone by President Muhammadu Buhari, which will leave his footprints inexorably on the sands of time.

Posted on Thu 23 Apr 2020, 08:50 AM

Global remittances are projected to decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic and shutdown.

This is according to the World Bank in a statement on Wednesday, which added the projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers, who tend to be more vulnerable to loss of employment and wages during an economic crisis in a host country.

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