Coronavirus death toll passes 26000. 00 as the government includes karen fatalities for the 1st time. 100000 arrested for breaking the Philippine Government lockdown what police are being accused of serious violations and an icon of indian cinema the film world pays tribute to if im caught who has died of cancer. The brutal impact coronavirus lockdowns are having on the Global Economy is becoming clearer with the release of new Financial Data and the numbers only reflect up to the end of march just as most restrictions were actually being put in place the Worlds Largest economy the United States which has now recorded more than 60000 deaths has shrunk 4. 8 percent since the start of the year thats its largest drop since 2008 new numbers from europes economic powerhouse germany show its g. D. P. Is expected to contract by more than 6 percent this year plunging the country into its deepest recession in half a century and the economy. Out of Africa Nigeria has just been granted a 3400000000. 00 loan from the i. M. F. Thats the funds the largest ever aid package for a single country all of this says the International LaborOrganization Warns that 1600000000 workers in the informal economy are in immediate danger of losing their livelihoods that is nearly half the Global Workforce what we find in report in this monitor is of the lives of the 2b2b informal workers of the world about 1600000000 as suffered massive damage to their ability to earn a living and to support themselves and their families if they are not able to go out and work for a day and earn some income day by day because thats how it tends to work their family wont eat they wont eat and their family will not eat and there is no social protection. Stock or about the latest u. S. Economy figures with our White House Correspondent kimberly have cat and kimberly president trying this current meeting Business Leaders at the white house to do we know what he had to say about the falling g. D. P. Yeah the u. S. President said very little about these numbers which are obviously not good news for his administration youre right hes meeting with big business Industry Leaders in the Hospitality Industry this time yesterday it was the small Business Leaders all he would say is that he was optimistic that the next quarter would be what he called a transition quarter and he predicted that the 4th quarter would be fantastic now i can tell you that not everyone at that table shares such a rosy view of the prospect of recovery in fact one of his economic advisors larry kudlow said that this is a tough one in the contraction that were seeing right now that is projected to be even worse next quarter in terms of the g. D. P. That it will go on for a bit so this is jeff another Economic Indicator that is bad news for the u. S. Economy weve been looking at so many in recent weeks whether its unemployment claims which we expect to go up again tomorrow or whether it is the dismal number in terms of the death toll now ticking past 60000 in this country what many of these Business Leaders are talking about as they meet with the president is that even if these economies are reopened the problem is that many of these customers are not coming back because they simply dont feel safe yet to leave their homes and thats what these Business Leaders are grappling with thats what this president is grappling with as he tries to reopen this u. S. Economy. So kimberly terrible news on the economic front if there is a slight glimmer of hope when it comes to any kind of treatment for covert 90 theres already talk that an antiviral drug called that red vest severe could actually be cleared for emergency use after some promising results from a trial and potentially this could be great news what more do we know. All we know is coming from dr anthony found she has a very respected Public Health official in the United States now what he said is that he looked at the data from a study on using ramdev severe for possible treatment for cope with 19 and that there is some positive data what he says is that the use of this drug if it gets to market could shorten a persons Recovery Time from coronavirus although with 31 percent improvement doesnt seem like good knock out 100 percent is a very important proof of concept because what it is proven is that a drug and block this virus. And what else it seems to prove in these results from this study is that essentially this drug can block an enzyme that the virus needs to perpetuate so this is really opening the door for a possible treatment breakthrough now what is being reported in the United States is that the f. D. A. Or food and Drug Administration is expected to potentially announce that there will be an emergency authorization for the use of this drug on the market so that it can be used immediately watching very carefully as this meeting continues with the u. S. President the question of the answers that may follow whether the president will make some sort of announcement to that effect you know will bitch be checking in with you for those ones in the meantime kimberly how could thank you. Feel ready dire Economic Situation in germany meanwhile could get even worse germany the powerhouse of Europe Dominic kane explains from berlin. The economic damage that germany is suffering by dint of the pandemic continues to raise real concerns. And her cabinet colleagues now they have to reckon with a shrinking economy they already knew that the projection for this particular quarter april to june was very bad now they can see that the German Economy is going to shrink by more than 6 percent in this calendar year given the fact that until the pandemic began theyd expected a modest growth of the economy it shows the effect corona is having the point that they are having to deal with is when to relax restrictions to allow the economy to get back to some degree of normality whilst of course keeping the threat of the 2nd wave of infection at bay if there is a 2nd wave of infections it could make the recession thats already going to be very bad that much worse. And as we mentioned earlier nigeria has received a 3400000000. 00 loan from the International Monetary fund to help it tackle kovac 19 the outbreak and sharp fall in oil prices of magnified challenges for the economy the government has already reduced its 2020 budget by 40 percent. More now from. This is a country that has seen a lot of borrowing in recent times in march early march 2020 the government the parliament approved more than 22000000000. 00 as for for the Nigerian Government to borrow externally so this is also coming at a time when the external results of this country has seen a significant drop from more than 40000000000. 00 just a few years ago to only 33000000000. 00 the grant from the i. M. F. Is seen by economists and government officials here as a Welcome Development it could help stimulate growth and also cushion the effect of the covered 19 impact on be kind to me but a lot of economists also fear that this country may need much more than what it has already gotten from the i. M. F. External other external and internal borders of the at the moment saudi arabia has reported a 1st quarter budget deficit of more than 9000000000. 00 as Oil Prices Slide the Worlds Largest oil exporter has been hit hard by the global collapse in demand because of the pandemic saudi oil revenues to fall in 24 percent compared to the 1st quarter of 2019 factories are forced to stay shut and Storage Units are nearly full saudi arabia along with other large Oil Producing nations have agreed to cut output by about 10 percent over the next 2 months in an attempt to balance the market. And boeings stocks have reported a 641000000. 00 loss on tuesday tuesday a loss that grows to 1700000000. 00 in its core airplane manufacturing businesses the companies the fence contracts a little less than half its overall business are largely untouched but the playmaker will lay off one in 10 workers including 15 percent of its commercial aircraft employees john hendren has the story now from chicago. Buffeted by a Global Pandemic in a crisis of its own making boeing is plunging deep into negative territory the company has been scrambling for more than a year to get its most lucrative plane this 737 max back in the air after it was grounded following 2 crashes that killed 346 people then the coronavirus emptied planes in airports with passenger travel down an unprecedented 95 percent boeing reported a loss of 6 141000000. 00 and now plans about 16000. 00 layoffs 110th of its Global Workforce light all of shutdowns not just europe and United States but pretty much everywhere in the world the ramifications are. For the most part the industry is not interested in taking delivery of airplanes at the moment and or. Against contracts that we have in here and so as a result there is this moment in time. Try to contend with the dramatic reductions southwest and other airlines are cutting their orders for the 737 max and with fewer long haul travelers boeing is cutting back on production of its massive 777 and 787. 00 dreamliner jets boeing is the United States largest export ing manufacturer and it said that when boeing sneezes americas economy catches cold now foundations of highly skilled highly paid boeing workers will be joining the waiters Service Workers and others who are among the 1st wave of coronavirus layoffs and that will reverberate down the boeing supply chain and throughout the u. S. Economy boeing rival airbus also posted a 521000000. 00 loss in what its called the greatest crisis the Aerospace Industry has ever known. Analysts say boeing and airbus will have to restructure for a new marketplace and compete with their own cheaper used planes languishing on tarmacs around the globe youre all grown up and got no where to go really being there isnt any certainly a product of a separate post about bad news europe not many people are planning a trip to the lake cookery of italy right now so its going to be only long time theyre going to readjust and be a Smaller Company although the Global Pandemic took just months to ground much of the Aviation Industry analysts say it will take years to arrive at a new normal john hendren and jazeera chicago. Well it speak to patrick peregrina International Economist who heads of research at adv acro he joins us live now from london sir thank you so much for joining us here on aljazeera an incredibly bleak picture thats being painted there the u. S. Economy in trouble and the jerry at that the heart of the african economy germany of course the heart of the eurozone of how bad is it is it worse than you thought it might be when i guess a lot of predictions were made a few weeks ago. Well certainly when we look at the data thats come out its actually been worse than the economists consensus was. For example in todays us g. D. P. Number the the core personal consumption element which is the largest element is about 70 percent of g. D. P. Fell an annualized rate in that over get this testing q 17. 8 percent and it was a 4 was expected to be 3. 6 percent weve never seen that before in the u. S. With session in the consumer or it has a residual amount demand but actually he is actually taking a more defensive stance and actually start to react with long before the shutdowns in terms of their activity. A lot of nations right now is thinking of ways in which to lift the lockdown also because of the impact that these lockdowns are having on the various economies what do you think the priorities should be in looking at this maybe at the u. S. Or even the u. K. What do you think are the Main Industries to get going again that would try to help stimulate the economy as a whole. Well if we look at it ok we have the government sector thats fairly protected. But the rules say the sec to that and i think we saw the fed reserve the saving in a press conference the largest sector of the economy is not these Big Companies the big it is to employers are the u. S. Emmys theyre the great majority of employment its ways of getting we know we have to live with a lockdown so were seeing these gradual easing of them but the problem is we just dont know i mean look at germany very key Angela Merkel talks about the r 8 they they ease their lock down after easter and theyve seen the r 8 pick up and we did you know this possible what happens if germany goes into lockdown again thats going to really dent Global Confidence and in terms of what were seeing we close to companies we talk about boeing we have British Airways tensors and 10000 job losses its these Big Companies they those numbers sound bad enough but when you think about Something Like boeing or British Airways think about all the auto suppliers to them so for every boeing worker theres probably about another 8 workers in the supply chain providing all the various parts tools. That are going to put the stuff together thats brought into that so we really are talking about a car that for now about 30 busy percent at least of global activity has just disappeared and the problem is come back to these Small Businesses most Small Businesses run on very fine margins they dont have the financial wherewithal they can go and tap the markets easily you see the problems with the Business Loans in the u. S. And the u. K. And they may simply not come back and thats the real issue so on what an employment rises it go. Very quickly d would takes years which come to us 10 years who are unemployment to get back to where it was in 2007. Despite all the problems that there have been especially in the states with giving loans to small and medium businesses and less at least you have governments that are trying to help these businesses but we heard from the International Labor organization that potentially half the Global Workforce which works in the informal informal the socalled informal economy could actually find itself unemployed from one day to the next what is the knock on effect of that and how possible is it for some of the weaker economies in the world to try to balance their books again and get back on their feet if the biggest economies in the world are in the trouble that theyre in. Its extremely difficult and thats the real problem are already saying a lot of emerging markets burning through their effects with service some of them are even trying quantity of easing on their own and the problem is no real forthcoming aid because everyone else is in such dire straits so and the un warned the other day that they could see. Hunger of rice to biblical portions that Global Hunger could rise by 130000000 this year alone and i think its you know its a its an awful awful situation and so we said there are so integrated in supply chains of silver stuff Banga Banga Banga only textile workers are being put out of work because large retailers in the west of just canceling contracts and its really really interactive the only thing thats really going to fix this out ultimately is the fact when we actually come up with a proper vaccine all i mean it sounds awful but we might have to get to the point where because we dont so mental about covert 19 there we almost have to treat it as we did with previous to and previous times and almost except that its with us and were going to see these Death Threats there is one thing i would say though and i think we tend to lose sight of this its we we hear the numbers about deaths and its very very distressing but there is it would take quite a lot of rufus despite global governments but the evidence is very clear that the under fiftys in a Health Context or very unlikely to be affected by this and it crisis huge political dynamics but i think probably going back to what youre saying how can we get a lock downs going well it is actually getting people back and then im going to reengage with the in column e. And i know that takes you know weve been seeing efforts on contact and tracing all the sort of stuff and i think this is the this is the hope i mean were not. The. Time to travel rick perry with out about saying this could be very hard absolutely very difficult decisions ahead for most of the governments in the world patrick peregrine head of research at macro thank you. I hear that coming up on this news hour from london the race to find a successful Coronavirus Vaccine as we were just discussing there and the surprising reason that it could be the