Audio By Carbonatix
The full impact of the coronavirus pandemic was laid bare when the United Kingdom became the first G20 nation to release its economic data.
In April, the first full month of the lockdown, the UK's economy tanked a staggering 20 percent. It is heading towards the worst recession in 300 years.
The government is expected to spend $60bn from March to October as they pay 80 percent of salaries of furloughed workers. The scheme is currently supporting 8.7 million jobs, or a third of all working people.
Some of the poorest parts of the UK have been hardest hit by the pandemic. Al Jazeera's Laurence Lee reports from Middlesbrough in northeastern England, where officials are concerned that the town will not cope if the government reintroduces austerity cuts after the lockdown.
And as rich nations spend trillions of dollars to limit the damage on economies and jobs, we speak to Jan Randolph, director of sovereign risk at IHS Markit, who explains how countries may pay off debts in the coming years.
Also on Counting the Cost: The United States has imposed new sanctions against the Syrian government, which are expected to derail the regime's post-war recovery plans. Meanwhile, in Ecuador, one Indigenous community is successfully tackling coronavirus with strict lockdown measures. Plus, we look at why most global markets have staged a remarkable recovery - totally detached from the economic reality of the pandemic.
Latest Stories
-
Uganda’s president heads for victory as his main rival cries foul
13 minutes -
Lt Col Dela Galley makes history as first female commander of Ghana Military Police
18 minutes -
Nollywood special effects artist, James Akaie dies on set following gas explosion
44 minutes -
27-year-old sentenced to seven years for pouring acid on former student
1 hour -
Ghana’s US envoy links job creation to ending youth deportations
2 hours -
Blair and Rubio among names on Gaza ‘Board of Peace’
2 hours -
Minister calls for inter-ministerial force to fix Accra’s rush-hour transit crises
3 hours -
Sarkodie’s Rapperholic UK edition sells out Royal Albert Hall
3 hours -
Academic exodus: Ghanaian PhD students in UK forced to withdraw as Scholarship Secretariat fails to pay fees
4 hours -
Antoine Semenyo’s £65m Manchester City switch sparks discussions in UK Parliament
4 hours -
Transport crises, Prof. Frimpong-Boateng v NPP and LGBTQI issues take centre stage on Joy Prime’s ‘Prime Insight’
5 hours -
Ghana Navy busts major fuel smuggling syndicate along Volta coast
6 hours -
Karaga MP donates 4,000 gallons of fuel to boost livelihoods in New Year outreach
6 hours -
GIPC CEO engages European Parliament delegation on Ghana’s investment reforms
6 hours -
Oppong Nkrumah, 5 others didn’t accept campaign support from Bryan Acheampong – Pius Hadzide backtracks
7 hours
