The Argentine authorities and IMF staff have reached an agreement on a 36-month Stand-By Arrangement (SBA) amounting to US$50 billion (equivalent to about SDR 35.379 billion or about 1,110% of Argentina’s quota in the IMF). This staff-level agreement will be subject to approval by the IMF’s Executive Board, which will consider Argentina’s economic plan in the coming days.
The United Nations celebrates World Oceans Day every year on June 8. As part of the celebrations, the Office of Legal Affairs, Division for Ocean Affairs and the Law of the Sea organizes several events and hosts a reception at United Nations Headquarters in New York City, where the Secretary-General’s Annual World Oceans Day Message is delivered and the winners of the Annual World Oceans Day Oceanic Photo Competition are announced.
Boris Johnson reportedly warned there may be a Brexit “meltdown” in comments made at a private dinner this week. The UK foreign secretary also referred to the Treasury as the “heart of Remain”, according to a report by Buzzfeed.
Theresa May has been fighting to keep her Brexit plans on track despite a Cabinet row over proposals for the Irish border and a potential revolt in the Commons. The UK’s proposals for a “backstop” arrangement for the border between Northern Ireland and Ireland are to be published “shortly”, although Brexit Secretary David Davis understood to have concerns about some of the details.
Queen Maxima of the Netherlands is mourning the loss of her younger sister Inés Zorreguieta, who has passed away at the age of 33. Local Argentine media have reported that Inés died of an apparent suicide. She was found at her home on Wednesday night in Buenos Aires. Inés, who worked for the government, is believed to have suffered from depression and mental health issues.
Trade union membership in the United Kingdom has dropped by a quarter among under-30s since the turn of the century, according to figures from the Trades Union Congress. As the TUC marks its 150th anniversary, the union body has revealed the number of people under 30 who are members of a trade union has fallen from just over 20% in 2001 to 15% in 2017.
In line with its vision of advancing sustainability through tourism, the World Tourism Organization (UNWTO) released its flagship publication ‘Tourism for Development’ in Brussels on 6 June during the European Development Days (EDD), and called for greater awareness of sustainability in tourism policies and business practices as well as in tourist behavior.
The big five European leagues generated a record €14.7bn in revenue in 2016-17, a 9% annual increase, according to new figures from Deloitte. It says the European football market is now worth some €25.5bn and the English Premier League was the market leader, with record revenue of £4.5bn, as each of the 20 clubs se their own annual revenue record.
Terrorism has hit the UK’s economy harder than any other EU country in recent years, according to a study. Analysis found the UK lost an estimated 43.7 billion Euros (£38.3 billion) in GDP terms due to terrorist activity from 2004 to 2016, according to a report published by the Press Association.
Spain's Socialist Prime Minister Pedro Sánchez has given 11 of his 17 cabinet posts to women, a higher proportion than anywhere else in Europe. A self-styled feminist, Sánchez' choice was in marked contrast to the male-dominated executives of ex-PM Mariano Rajoy, ousted last week.