IMF warns pandemic darkening prospects in developing countries

13 Sept 19:18 Key points summarised by AI

The IMF warns that the ongoing pandemic and unequal vaccine distribution are severely widening the economic divide, dimming prospects for developing nations.
This divergence is projected to reduce global GDP by a cumulative $5.3 trillion over five years, with emerging economies significantly lagging pre-pandemic growth forecasts.
Advanced economies also face challenges, including supply chain disruptions and rising inflation, leading to downgraded growth projections for countries like the United States.
The IMF stresses that the foremost policy priority is to achieve global vaccination targets of 40% by end-2021 and 70% by mid-2022 to prevent long-term economic scarring.
Central banks, particularly the US Federal Reserve, must delicately balance inflation control with economic recovery, as policy decisions will have spillover effects on global financial markets.

New home loan scheme aims to boost property sector with Bt125 billion

20 Oct 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.