Bloomberg India is facing an economic shock as many parts of the country go into lockdown and the government will have to spend more and abandon fiscal deficit targets to cope, analysts said. Growth may weaken to 3% in the first three months of this year from 4.3% estimated previously, according to Oxford Economics, while Jefferies sees room for the ...

Bloomberg Federal Reserve Bank of St. Louis President James Bullard predicted the US unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product. Bullard called for a powerful fiscal response to replace the $2.5 trillion in lost income that quarter to ensure a strong eventual ...

Bloomberg Germany signed off on taking on billions in new debt as part of an unprecedented package totaling more than 750 billion euros ($800 billion) to cushion the fallout from the coronavirus pandemic. Under a supplementary budget, the government will borrow 156 billion euros to fund additional social spending and direct company aid. Germany has also agreed to set up ...