PreMCQ

During March 2020, the World Health Organization (WHO) declared the Coronavirus (COVID-19) outbreak as a pandemic in recognition of its rapid spread across the globe. Governments all over the world took steps to contain the spread of the virus and implemented closure of borders, released social distancing guidelines and enforced country wide lockdowns and curfews. According to a dashboard released by the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University (JHU, USA), over 4.8 million cases have been confirmed and more than 300,000 people have perished. Due to the safety measures adopted by governments, as mentioned above, lives and livelihoods of most of the global population is at risk, thereby triggering an economic crisis with dire societal consequences. On the macroeconomic front, performance has already started to deteriorate and is expected not to stabilize till the end of the financial year. A recession is imminent and International Monetary Fund (IMF)

  Govt has no intention to sell Roosevelt Hotel: minister No proposal is under consideration to selling the PIA-owned Roosevelt Hotel in New York, Aviation Minister Ghulam Sarwar Khan said on Monday. “All reports circulating in the media are nothing more than speculation and political point-scoring,” he added. The minister said the hotel’s management had taken out a loan of USD160mn from JP Morgan bank and was making regular payments from its own revenue stream. The balance outstanding at the moment is USD105mn. However, the hotel ran into financial trouble after the onset of the Covid-19 pandemic, giving the lender a pretext to sell off its liabilities to another company. Source:  https://www.dawn.com/news/ 1584733/govt-has-no-intention- to-sell-roosevelt-hotel- minister