The International Monetary Fund downgraded its outlook for the global economy, with a projected contraction this year of 4.9%, versus its 3.0% projection in April. The recovery next year also will be weaker than earlier forecast.
Health experts and political leaders are alarmed by a surge in COVID-19 infections:
Cases in the U.S. reversed a six-week downtrend, hitting their highest level in two months and nearly matching the nation’s peak infection rates in April and May.
Governors of Texas and California, the two most populous states, will impose restrictions after registering record new cases yesterday.
With cases rising in more than half of states, a growing number of state and local governments are slowing their reopenings.
Global COVID-19 infections are accelerating and approached 9.3 million yesterday.
The European Union is considering banning U.S. travelers from entering the region; bans currently are in place for visitors from Brazil and Russia due to their high infection rates.
Latin America, which accounts for 8% of the global population, now accounts for about one-fourth of global infections and suffered nearly half of COVID-19 deaths over the past two weeks, bringing the death toll north of 100,000.
At least six people died in the 7.5 magnitude earthquake that struck southern Mexico yesterday.
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