Global foreign direct investment plunged in first half of 2020: UN

Global foreign direct investment plunged in first half of 2020: UN

Global foreign direct investment plunged in first half of 2020: UN

an hour ago

A woman walks past a poster for annual meetings outside the IMF headquarters in Washington. File/Agence France-Presse

Global foreign direct investment (FDI) plunged by 49% in the first half of 2020 from the same period a year ago and is on course to fall as much as 40% for the year, driven by fears of a deep recession, the United Nations (UN) said on Tuesday.

FDI flows to European economies turned negative for the first time ever, falling to -$7 billion from $202 billion. Flows to the United States fell by 61% to $51 billion, the UN Conference for Trade and Development (UNCTAD) said in a report.

The International Monetary Fund (IMF) had earlier slashed this year's economic forecast