Xinhua world economic news summary at 0900 GMT, Oct. 18

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WASHINGTON -- Global economic recovery is going to be slow as long as the COVID-19 pandemic is not under control, International Monetary Fund (IMF) Chief Economist Gita Gopinath has said, calling for multilateral efforts to contain the virus.

In a remote video interview with Xinhua earlier this week, Gopinath said economic outcomes in the second quarter have been less dire, and global recovery is expected to be strong in the third quarter. However, the momentum could slow down after that. (IMF-China-Chief Economist-Economy)

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RIO DE JANEIRO -- The Brazilian government will eliminate import tariff on soybeans and corn to combat inflation in the food sector, the Ministry of Economy reported on Saturday.

The country's Foreign Trade Chamber approved a reduction in tariffs on soy and corn purchases in order to slow inflation, which rose 0.64 percent in September, the ministry said in a statement. (Brazil-Inflation-Eliminate)

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BANGKOK -- Thailand's central bank on Saturday announced on its website an extension of grace period of debt moratorium for Thai small and medium-sized enterprises (SMEs) as many of their businesses have been adversely impacted by COVID-19.

The Bank of Thailand (BoT) extended the debt moratorium period to June next year for small and medium-sized enterprises (SMEs) with a credit line below 100 million baht (3.2 million U.S. dollars) and difficulty in servicing existing debts, the BoT said. (Thailand-Central Bank-Decision)

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NEW YORK -- Wall Street's major averages eked out modest gains in the week as investors monitored updates about a U.S. coronavirus stimulus bill, while poring through a batch of key economic data.

For the week ending Friday, the Dow inched up 0.1 percent, the S&P 500 rose 0.2 percent, and the Nasdaq advanced 0.8 percent. (US-Stocks-Weekly Gain) Enditem

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