IMF chief: 'Clear we have entered recession'

13 Sept 10:41 Key points summarised by AI

IMF chief Kristalina Georgieva declared the global economy has entered a recession, stating it will be worse than the 2009 financial crisis due to the coronavirus pandemic.
Emerging markets are estimated to require $2.5 trillion in financial aid, with domestic resources proving insufficient; over 80 low-income countries have already sought emergency assistance from the IMF.
Georgieva welcomed the US Senate's $2.2 trillion economic package, emphasizing its crucial role in cushioning the US economy and accelerating Washington's $78 billion contribution, which strengthens the IMF's overall $1 trillion lending capacity.

Suchada: Meet the reluctant star of Thailand’s cryptic crypto drama

Yesterday 15:38 Key points summarised by AI

Thai MP Suchada Zhang Thaensap faces intense scrutiny over her husband’s substantial 1.84 billion baht wealth, with opposition lawmakers alleging connections to international scam networks.
A significant portion of her husband, Taiyang Zhang's, declared assets includes a 1.44 billion baht loan to the now-bankrupt cryptocurrency hedge fund Three Arrows Capital, which still owes him 1.34 billion baht.
Opposition MP Rangsiman Rome accused Suchada's husband of links to online scam networks and gambling sites, prompting Suchada to vehemently deny the claims, demand evidence, and file a defamation complaint.
Taiyang Zhang's background includes co-founding Ren Protocol, later sold to Alameda Research (linked to the FTX collapse), and some of his former associates have been convicted in crypto company failures.
Suchada, a former actress and first-time MP, maintains her husband's innocence, while her party leaders have distanced themselves from the allegations, deeming it a private matter.