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Old 08-04-2021, 13:32
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KostiaFM KostiaFM is offline
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Default Re: Daily Economic news by ForexMart

April 7. Coronavirus and Emerging Markets

The coronavirus pandemic is having a strong negative impact on emerging markets.

India yesterday confirmed over 115,000 new cases of Covid-19, a record high in history. If the current trend continues, it means that the peak of the epidemic in India has not yet been reached. The country, which is the world's largest vaccine producer, has suspended exports to other countries in order to vaccinate its citizens.

Turkey is also seeing a rapid increase in the daily rate of Covid-19 infection. Almost 50,000 new infections were confirmed in the country yesterday, also a record high.

The economies of India and Turkey have experienced high inflation rates even before the surge in infections, so the pandemic could further exacerbate their internal economic problems.

At today's meeting, the Reserve Bank of India kept its benchmark interest rate at a record low of 4%.
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