ABOUT-TURN: The IMF’s latest report marks a complete reversal of the fund’s normal concerns. It estimates that increasing public investment by 1% of GDP is likely to boost GDP by more than 2% after two years. Picture: Bloomberg/Andrew Harrer
ABOUT-TURN: The IMF’s latest report marks a complete reversal of the fund’s normal concerns. It estimates that increasing public investment by 1% of GDP is likely to boost GDP by more than 2% after two years. Picture: Bloomberg/Andrew Harrer

The International Monetary Fund (IMF) has issued a rallying call to rich countries to increase public investment as the best way to encourage a strong economic recovery from the pandemic.

Advanced economies should not worry about debt, but instead take advantage of historically low borrowing costs to increase spend on infrastructure maintenance immediately, the IMF said in its Fiscal Monitor.

Financial Times

Parcel boom

International delivery company DPD will have hired 20,000 new workers across Europe by the end of the year in response to the surge in demand for parcels because of Covid-19.

The hiring spree, a 25% increase, underlines the boost to business for groups including Amazon and DHL Express as they recruit thousands of extra staff to cope with the soaring number of orders.

DPD expects a 23% increase in package deliveries in 2020 to 1.6-billion, while revenue is forecast to rise 30% to more than €10bn.

Financial Times

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