Summary for Thursday, 16th April
Welcome back to our rolling coverage. From across Asia, Australia and later Europe and the US, we will keep you up to date with all developments from around the globe.
Here’s what you need to know this morning.
What's happening in Asia?
As we wake up to a new day in Asia, here's a quick look at what's been happening in the region:
The lack of growth will be "worse than the annual average growth rates throughout the Global Financial Crisis (4.7%) or the Asian Financial Crisis (1.3%)", it said.
The IMF added that if containment policies are effective, there will be a rebound in growth in 2021.
The warning comes just days after the World Bank warned South Asia faced its worst economic performance in 40 years because of the virus.
For all of us who lived through the Asian Financial Crisis, these warnings will bring back stark memories of currency crashes, property prices tumbling and millions out of work. Wealth that was built up in decades disappearing in a matter of months.
The coronavirus economic crisis will be even worse - our generation’s Great Depression.
The economic crisis this time is different from both the Global Financial Crisis and the Asian Financial Crisis the IMF says, because back then - households could still go out to the shops, and buy things, or eat at restaurants - keeping small businesses alive.
This time, that’s not possible. The IMF says governments must help these households and firms survive because the impact of the coronavirus will be "severe, across the board and unprecedented".
But the reality is only a few countries in the region have that sort of financial firepower to do this. Many are grappling with huge populations, limited financial resources, and the very real possibility of political instability as their people get sick, hungry - or both.
50-year-old Takashi Takai admitted that he visited the "sexy cabaret club" in Tokyo's nightlife district on 9 April, said news agency Jiji Press.
He offered to quit the party but the Constitutional Democratic Party declined his resignation offer, expelling him instead.
The party's secretary general said Takai had apologised for his "thoughtless behaviour".
The capital Tokyo and several other prefectures in Japan are under a month-long state of emergency and people have been asked to stay home.
PM Shinzo Abe has especially urged people to refrain from visiting nightclubs and bars to prevent clusters developing.
In Bangkok, people flocked to Yaowarat, Bangkok's Chinatown, to trade their bracelets, necklaces and rings for cash.
Gold surged to a seven-year high on Tuesday - and many Thais keep gold jewellery as an investment for times of economic hardship.
Most have been linked to growing clusters in densely-packed migrant worker dormitories. The S11 Dormitory in Punggol - Singapore's biggest cluster - now has 797 cases.
The sharp daily rise is in part down to Singapore's aggressive testing.
Hundreds of migrant workers living in dormitories - even those who are well - are being tested each day, so its likely we'll continue to see numbers rise.
More than 1,000 migrant workers deemed healthy have already been moved out of these dormitories and placed in other accommodation.
Read more about Singapore's second wave of the virus here.
The city of Zhuhai follows the example by Shenzen near Hong Kong - in both cases the ban will go into effect on 1 May.
The decision has been welcomed by animal rights activists who hope the pandemic will help to ban consumption of cats and dogs across China.
Thirty million dogs a year are killed across Asia for meat, says Humane Society International (HSI).
However, the practice of eating dog meat in China is not that common - the majority of Chinese people have never done so and say they don't want to.
Read our report on the Shenzen ban here.
However that figure fails to capture the carnage the virus is wreaking on Australia's economy - because households were surveyed before restaurants were forced to shut and our borders closed.
We've seen thousands of people queuing for welfare across the country, and the economy is set to plunge into its first recession since 1991.
That will see unemployment rise to 10% - the forecast released by the treasury this week. That means the most number of Australians without a job in almost 30 years.
There are concerns that low-income countries will face an especially hard time coping with both the health and economic fallout of the pandemic.
Click here to read our full story.
The figures came after President Donald Trump said "the data suggests that nationwide we have passed the peak on new cases" .
He also said the trend put US states in a strong position to re-open the economy and that he would announce guidelines on Thursday.
The Trump administration previously pencilled in 1 May as a possible date to reopen the nation, but the president said some states may return to normality earlier than that.
The US has almost 640,000 confirmed cases and more than 30,000 deaths linked to Covid-19.
She told American TV channel CBS she felt "such extreme side effects", when she was given the medication in a Gold Coast hospital.
"I was completely nauseous and I had vertigo. I could not walk and my muscles felt very weak. I think people have to be very considerate about that drug," she said.
Chloroquine, and a related derivative, hydroxychloroquine, have gained attention after US President Donald Trump touted them as effective treatments. But the World Health Organization (WHO) says there is no definitive evidence they work.
In a televised message, Mr Ortega defended his government's record on coronavirus - saying only one person had died in the country.
He said he had not ordered a lockdown because of the economic impact this would have.
"In the midst of this pandemic work has not stopped because here, if you stop working, the country dies," he said. "And if the country dies, the people die."
Ortega also said the pandemic was a sign from God telling the world it was on the wrong track.
A fierce critic of the United States, he said the world should stop buying nuclear arms and military hardware and spend the money instead on hospitals and clinics.
- The IMF says the impact of the coronavirus on Asia will be "severe, across the board, and unprecedented"
- There is hope of a rebound in 2021, but "it is highly uncertain how this year will progress", it says
- Global infections passed the 2 million mark on Wednesday
- The G20 group of top economies have agreed to suspend debt payments owed to them by 77 of the world's poorest countries
- Germany has said smaller shops can start opening next week, as it eases its restrictions
- US President Donald Trump has doubled down on his accusations that the WHO mishandled the crisis
- Bill Gates, a major WHO donor, has said Trump's removal of US funding from WHO is "as dangerous as it sounds"
Welcome back to our rolling coverage. From across Asia, Australia and later Europe and the US, we will keep you up to date with all developments from around the globe.
Here’s what you need to know this morning.
- The International Monetary Fund says Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the virus takes an “unprecedented” toll
- There are now more than two million confirmed infections
- The deaths of 134,354 people have been linked to the virus
- The G20 group of leading economies have agreed to suspend debt payments from 77 of the world’s poorest countries
- The head of the World Health Organization said he regretted the decision by the US to withdraw funding
- China has closed one of its temporary Covid-19 hospitals, which was built in days
- Germany has followed some other European countries, announcing plans to slowly ease restrictions , with some shops possibly opening as early as next week
What's happening in Asia?
As we wake up to a new day in Asia, here's a quick look at what's been happening in the region:
- US Secretary of State Mike Pompeo has stressed the need for China to be transparent and to share its data on the Covid-19 outbreak. He also stressed the "importance" of China's facilitation of medical supplies to the US
- The IMF has warned that economic growth in Asia Pacific is expected to "stall at zero percent" in 2020, calling this its "worst growth performance in almost 60 years"
- India has agreed to sell hydroxychloroquine to Malaysia - it's still not proven that the medicine is successful in treating Covid-19
- Japan has urged its citizens to stay home, as reports of a health ministry projection say as many as 400,000 people could die without urgent action. Japan currently has around 9,000 confirmed cases
- Singapore has seen its highest daily spike with 447 new cases - the majority linked to a growing migrant worker cluster
What’s happening in Australia?
- The state of South Australia recorded no new cases yesterday - another sign of the sustained national decline here. Other states have also reported dwindling numbers even as testing is widened
- National Cabinet will meet to discuss what to do with schools – an ongoing point of division between state and federal authorities. Schools remain open technically, but state leaders have urged parents to keep their children at home if they can. Victoria resumed term yesterday with only 3% of pupils in classrooms.
- Virgin Australia, Australia’s second biggest airline, has extended its share market trading halt as it struggles to find a way to stay afloat.
- And in unsurprising news, Australians are buying and drinking up to 20% more alcohol in home isolation, a public poll has found.
IMF warns Asian growth will come to a halt
The International Monetary Fund (IMF) says Asia’s economic growth this year will come to a halt for the first time in 60 years.The lack of growth will be "worse than the annual average growth rates throughout the Global Financial Crisis (4.7%) or the Asian Financial Crisis (1.3%)", it said.
The IMF added that if containment policies are effective, there will be a rebound in growth in 2021.
The warning comes just days after the World Bank warned South Asia faced its worst economic performance in 40 years because of the virus.
'Our generation’s Great Depression'
The IMF’s bleak warning echoes other multilateral institutions like the World Bank - but goes a step further - saying that Asia could likely see zero growth this year, for the first time in 60 years.For all of us who lived through the Asian Financial Crisis, these warnings will bring back stark memories of currency crashes, property prices tumbling and millions out of work. Wealth that was built up in decades disappearing in a matter of months.
The coronavirus economic crisis will be even worse - our generation’s Great Depression.
The economic crisis this time is different from both the Global Financial Crisis and the Asian Financial Crisis the IMF says, because back then - households could still go out to the shops, and buy things, or eat at restaurants - keeping small businesses alive.
This time, that’s not possible. The IMF says governments must help these households and firms survive because the impact of the coronavirus will be "severe, across the board and unprecedented".
But the reality is only a few countries in the region have that sort of financial firepower to do this. Many are grappling with huge populations, limited financial resources, and the very real possibility of political instability as their people get sick, hungry - or both.
Japan lawmaker expelled after cabaret visit
A Japanese lawmaker has been expelled from his party after he visited an adult entertainment club in Tokyo - despite the capital being under a state of emergency.50-year-old Takashi Takai admitted that he visited the "sexy cabaret club" in Tokyo's nightlife district on 9 April, said news agency Jiji Press.
He offered to quit the party but the Constitutional Democratic Party declined his resignation offer, expelling him instead.
The party's secretary general said Takai had apologised for his "thoughtless behaviour".
The capital Tokyo and several other prefectures in Japan are under a month-long state of emergency and people have been asked to stay home.
PM Shinzo Abe has especially urged people to refrain from visiting nightclubs and bars to prevent clusters developing.
Thais sell off jewellery as gold price spikes
People in Thailand have been rushing to sell their gold jewellery as the price of the precious metal spiked, and the economy begins to suffer.In Bangkok, people flocked to Yaowarat, Bangkok's Chinatown, to trade their bracelets, necklaces and rings for cash.
Gold surged to a seven-year high on Tuesday - and many Thais keep gold jewellery as an investment for times of economic hardship.
Singapore sees highest number of daily cases
Singapore has seen its highest daily spike with 447 new cases on Wednesday, bringing the total to 3,699.Most have been linked to growing clusters in densely-packed migrant worker dormitories. The S11 Dormitory in Punggol - Singapore's biggest cluster - now has 797 cases.
The sharp daily rise is in part down to Singapore's aggressive testing.
Hundreds of migrant workers living in dormitories - even those who are well - are being tested each day, so its likely we'll continue to see numbers rise.
More than 1,000 migrant workers deemed healthy have already been moved out of these dormitories and placed in other accommodation.
Read more about Singapore's second wave of the virus here.
Second Chinese city bans eating dogs and cats
A second city in China has banned the eating of dog and cat meat in the wake of the coronavirus pandemic.The city of Zhuhai follows the example by Shenzen near Hong Kong - in both cases the ban will go into effect on 1 May.
The decision has been welcomed by animal rights activists who hope the pandemic will help to ban consumption of cats and dogs across China.
Thirty million dogs a year are killed across Asia for meat, says Humane Society International (HSI).
However, the practice of eating dog meat in China is not that common - the majority of Chinese people have never done so and say they don't want to.
Read our report on the Shenzen ban here.
Australia jobless stat doesn't show full picture
The latest job loss numbers have just dropped in Australia - a 5.2% unemployment rate for March, edging up from 5.1% last month.However that figure fails to capture the carnage the virus is wreaking on Australia's economy - because households were surveyed before restaurants were forced to shut and our borders closed.
We've seen thousands of people queuing for welfare across the country, and the economy is set to plunge into its first recession since 1991.
That will see unemployment rise to 10% - the forecast released by the treasury this week. That means the most number of Australians without a job in almost 30 years.
Rich countries delay poor nations' debt payments
Countries in the G20, the club of the wealthiest nations, have agreed to suspend debt repayments owed to them by some of the world's poorest countries.There are concerns that low-income countries will face an especially hard time coping with both the health and economic fallout of the pandemic.
Click here to read our full story.
Death toll spikes - but Trump says cases have peaked
The United States has seen its highest daily death toll yet, with nearly 2,600 people with Covid-19 dying in the past 24 hours. That's not just the country's highest number - but the highest daily toll of any country worldwide.The figures came after President Donald Trump said "the data suggests that nationwide we have passed the peak on new cases" .
He also said the trend put US states in a strong position to re-open the economy and that he would announce guidelines on Thursday.
The Trump administration previously pencilled in 1 May as a possible date to reopen the nation, but the president said some states may return to normality earlier than that.
The US has almost 640,000 confirmed cases and more than 30,000 deaths linked to Covid-19.
Rita Wilson's 'extreme side effects' from chloroquine
American singer Rita Wilson, who with her husband actor Tom Hanks, fell sick with the virus last month in Australia, has raised concerns about use of the drug chloroquine.She told American TV channel CBS she felt "such extreme side effects", when she was given the medication in a Gold Coast hospital.
"I was completely nauseous and I had vertigo. I could not walk and my muscles felt very weak. I think people have to be very considerate about that drug," she said.
Chloroquine, and a related derivative, hydroxychloroquine, have gained attention after US President Donald Trump touted them as effective treatments. But the World Health Organization (WHO) says there is no definitive evidence they work.
Nicaragua's president reappears after a month
Nicaraguan President Daniel Ortega has reappeared after being absent from public view for more than a month.In a televised message, Mr Ortega defended his government's record on coronavirus - saying only one person had died in the country.
He said he had not ordered a lockdown because of the economic impact this would have.
"In the midst of this pandemic work has not stopped because here, if you stop working, the country dies," he said. "And if the country dies, the people die."
Ortega also said the pandemic was a sign from God telling the world it was on the wrong track.
A fierce critic of the United States, he said the world should stop buying nuclear arms and military hardware and spend the money instead on hospitals and clinics.