Economy

Tuesday, March 24th 2020 - 08:46 UTC
World Bank approves fast track financing to respond to Covid 19

The World Bank and IFC’s Boards of Directors approved an increased US$ 14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19. The package will strengthen national systems for public health preparedness, including for disease containment, diagnosis, and treatment, and support the private sector.
Monday, March 23rd 2020 - 07:00 UTC
Gibraltar creates a specific Covid 19 special fund of up to £500 million

The Gibraltar government could borrow up to 500 million pounds for Coronavirus aid if the community requires it in the coming months. This news came before parliament unanimously passed the emergency budget bill which will help cushion the negative economic effects the virus will have on the peninsula.
Monday, March 23rd 2020 - 06:43 UTC
World Water Day, everyone has a role to play, Antonio Guterres

The world’s water resources are under unprecedented threat. Today, some 2.2 billion people lack safe drinking water and 4.2 billion people live without access to adequate sanitation. Unless we act with urgency, the impacts of climate change are projected to exacerbate these figures. By 2050, between 3.5 and 4.4 billion people will live with limited access to water, with more than 1 billion of them living in cities.
Saturday, March 21st 2020 - 09:24 UTC
IMF's technical guidance on Argentine public debt sustainability

At the request of the Argentine authorities and reflecting close collaboration with them, the International Monetary Fund (IMF) released on Friday a technical note prepared by IMF staff on Argentina’s public debt sustainability.
Saturday, March 21st 2020 - 09:09 UTC
London's support for Falklands to deal with the impacts of the pandemic

In a display of support from London, the UK Government announced it is working closely with the Overseas Territories to ensure they receive the help that is necessary to face the challenge and consequences of Covid-19.
Friday, March 20th 2020 - 09:43 UTC
Argentina successfully rolls over local bonds in Pesos

Argentina’s economy ministry said on Thursday it had exchanged around 257 billion pesos (US$ 4 billion) in a debt swap for new instruments maturing between 2021-2024, as the government looks to restructure its debt amid a credit crunch.
Thursday, March 19th 2020 - 08:59 UTC
Coronavirus: Argentina unveils stimulus package; ample support from the political system to the strategy

Argentina unveiled this week a 700 billion Pesos (some US$10 billion) stimulus package to try to sustain economic activity, avert shortages of food and medical supplies, help companies and protect workers and vulnerable groups affected by the worsening Covid 19 pandemic.
Thursday, March 19th 2020 - 08:53 UTC
Uruguay to auction a controversial 41 year old jet used as VIP transport by the previous government

Uruguay has begun a process to auction the British Aerospace BAe 125-700A business jet acquired in 2017 by the country’s previous government for use as a presidential transport for then head of the Executive Tabare Vazquez.
Thursday, March 19th 2020 - 08:47 UTC
Chile declares a 90-day “state of catastrophe” beginning this Thursday

Chilean President Sebastian Piñera on Wednesday declared a 90-day state of catastrophe as cases of the new coronavirus mounted in the nation, giving the government extraordinary powers to restrict freedom of movement and assure food supply and basic services.
Thursday, March 19th 2020 - 08:36 UTC
Most world airlines “will be bankrupt by the end of May”

Sydney-based consultancy CAPA Center for Aviation warned in a statement on Monday that most of the world's airlines will be bankrupt by the end of May. Airline carriers are suspending routes for March, April, and May, and a full grounding of fleets has yet to be ruled out as flight restrictions have been placed across the world, spurring a collapse in demand, due to the Covid-19 pandemic.