Coronavirus updates: IMF says economic fallout will be worst since Great DepressionApril 10, 2020
The global novel coronavirus pandemic death toll is nearing 100,000 as more than 95,000 have now died from the disease.
In New York state, over 160,000 people have been diagnosed with COVID-19, the disease caused by the new respiratory virus, according to data compiled by the Center for Systems Science and Engineering at Johns Hopkins University. New York has more COVID-19 cases than any other state in the U.S. and every country in the world.
In the U.S., over 465,000 people have been diagnosed.
Worldwide, more than 1.6 million people have been diagnosed since the virus emerged in China in December. The actual numbers are believed to be much higher due to testing shortages, many unreported cases and suspicions that some governments are hiding the scope of their nations' outbreaks.
Today's biggest developments:
- FDA, FTC warn Infowars
- IMF anticipates economic fallout similar to Great Depression
- Global death toll nears 100,000
- Michigan creates task force to look at racial disparity
5:35 a.m.: IMF anticipates worst economic fallout since the Great Depression.
In a preview of its World Economic Outlook event next week, the International Monetary Fund says the world should be prepared for the worst economic fallout since the Great Depression due to the novel coronavirus.
"Today we are confronted with a crisis like no other. COVID-19 has disrupted our social and economic order at lightning speed and on a scale that we have not seen in living memory," Kristalina Georgieva, IMF managing director, said in a statement Thursday.
Three months ago, the IMF said it expected at least 160 countries would see positive per capita income growth in 2020. As of Thursday, the organization now predicts over 170 countries will experience negative per capita income growth this year.
"The bleak outlook applies to advanced and developing economies alike. This crisis knows no boundaries. Everybody hurts," Georgieva said. "In fact, we anticipate the worst economic fallout since the Great Depression."
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In the U.S., more than 16 million people have filed for unemployment insurance in just three weeks, according to data released Thursday by the U.S. Department of Labor.
The 2020 World Economic Outlook event is scheduled for Tuesday, April 14.
4:25 a.m.: FDA, FTC send warning to Infowars
The Food and Drug Administration, along with the Federal Trade Commission has sent a notice to Alex Jones' Infowars website to stop selling products it claims can help "mitigate, prevent, treat, diagnose, or cure COVID-19."
Officials not only warned against selling alleged treatments for coronavirus, but it also asked consumers not to use the products since none are approved by the FDA to treat COVID-19.
Among the items the FDA said the conspiracy theory website was selling include, “Superblue Silver Immune Gargle,” “SuperSilver Whitening Toothpaste,” “SuperSilver Wound Dressing Gel” and “Superblue Fluoride Free Toothpaste.” The products were sold on the website and promoted on Infowars videos, the FTC letter said.
The FDA has sent 26 warning letters to companies and organizations claiming to have COVID-19 treatments since March 6. Of those, 14 have been labeled as corrected.
While there are trials running across the world, there is no known treatments or vaccines to cure or prevent COVID-19.