“The G7 continues to maintain that no global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements through appropriate design and by adhering to applicable standards,” the statement said.

Stablecoins are tied to a traditional currency or basket of assets, and used for payments or for storing value.

World experiencing worst recessions since Great Depression due to Covid: WB

Oct 15, 2020

Malpass said that the world was currently experiencing a K-shaped recovery.
For the developing countries, and especially the poorest developing countries, that downward leg in the K is an increasingly desperate recession or depression that is facing people in the poorest countries because of the loss of jobs, the loss of income, and also the loss of remittances coming from workers, working outside the country, Malpass said.

‘SIRC 2020 Re-Mind’ virtual event to be held on 2 to 5 Nov, Singapore’s Dy PM to deliver keynote address

Oct 15, 2020

Registration for the event is free
As Co-Host, Swiss Re will curate conference sessions during the virtual event featuring senior leaders and experts from around the world in discussions on a wide range of (re)insurance topics, such as ‘Insurance digitalisation in a post-COVID world’; ‘Derisking global supply chains’; and ‘Managing climate risks’. Other contributing partners are being lined up to curate other sessions to be presented at the event.

IMF data shows pandemic will push China GDP growth well beyond US

Oct 15, 2020

Extreme poverty is set to rise for the first time in more than two decades, and persistent output losses imply a major setback to living standards versus the pre-pandemic days, the IMF said.“The poor are getting poorer with close to 90 million people expected to fall into extreme deprivation this year,” said Gopinath.

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