Economy

• Tuesday, April 7th 2020 - 07:50 UTC

  COVID-19 hits hard US economy, with millions of jobs lost, but the dollar remains king

  

  The COVID-19 outbreak in the United States has caused millions of people to lose their jobs and brought the economy to its knees but it has not dethroned the American dollar. On the contrary, the currency has risen in value this year, gaining six percent from its lowest point reached in early March, according to the US dollar index, which measures the greenback's value against a basket of other currencies.

• Tuesday, April 7th 2020 - 07:49 UTC

  US warns China following the sinking of a Vietnamese fishing vessel near disputes islands

  

  The United States on Monday warned China not to take advantage of the coronavirus pandemic to exert itself in the South China Sea after Vietnam said Beijing sank a trawler.

• Monday, April 6th 2020 - 08:50 UTC

  Argentina postpones payments of bonds issued under local law, some US$ 10bn

  

  Argentina is postponing payments on up to US$ 10 billion debt (interests and capital) that was issued under local law until the end of the year, the government said in a decree late on Sunday, in a bid to relieve pressure over looming foreign currency payments.

• Saturday, April 4th 2020 - 09:18 UTC

  Chaos in Argentine banks as crowds tried to collect government assistance

  

  Argentines left their homes in droves as banks reopen their branches to give out government assistance. Thousands of pensioners and citizens who receive government welfare lined up outside banks to get their monthly payments. Branches, which have been closed since a nationwide lockdown began March 20, reopened Friday so that citizens who can't receive the payments on debit could receive the cash.

• Saturday, April 4th 2020 - 09:05 UTC

  Moody's downgrades Argentina's credit rating

  

  Moody's downgraded Argentina’s credit rating on Friday, cutting it to Ca from Caa2 in a move that reflects the firm’s expectation that private creditors will incur losses as a result of the government’s efforts to restructure its sovereign debt.

• Saturday, April 4th 2020 - 08:18 UTC

  Record unemployment filing in US in two weeks; “economy has slipped into recession”

  

  The number of Americans filing claims for unemployment benefits shot to a record high of more than 6 million last week as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.

• Saturday, April 4th 2020 - 08:10 UTC

  Pandemic: Paraguay receives US$ 20 million to support its health system

  

  The World Bank Board of Directors approved today a loan of US$20 million to support Paraguay in strengthening its health system in the face of the coronavirus pandemic (Covid-19). In the context of the country's current health situation, already affected by the worst dengue outbreak in recent years, the project will help strengthen the already overburdened health system through the purchase of medical supplies and equipment.

• Saturday, April 4th 2020 - 08:08 UTC

  World Bank US$ 35 million emergency loan for Argentina to combat coronavirus

  

  The World Bank Board of Directors today approved a US$ 35 million emergency loan to support the Argentine government efforts to minimize the impact of the COVID-19 pandemic on the health system through the procurement of medical supplies and equipment. This financing forms part of a World Bank fast track package of up to US$ 14 billion to help countries cope with the health and economic impacts of the COVID-19 pandemic.

• Friday, April 3rd 2020 - 07:59 UTC

  Argentina continues talks but moves forward plans for debt restructuring

  

  Argentina will continue talks this week and next with creditors over restructuring its US$ 83 billion in foreign debt, Economy Minister Martin Guzman said after the country missed the March 31 deadline it had set previously.

• Friday, April 3rd 2020 - 07:55 UTC

  Falklands Office in London remains open for business and stranded Islanders

  

  On the advice of the UK Prime Minister, the Falkland Islands Government Office in London is closed and all staff is working from home. Despite this FIGO is working as normal and remains available to help all Islanders in the UK, Falkland Islands organizations, FIG, and anyone traveling to and from the Islands.