Economy

• Thursday, March 19th 2020 - 08:25 UTC

  Brazil central bank cuts benchmark rate 50 points to a record low of 3.75%

  

  Brazil’s central bank on Wednesday cut its benchmark interest rate by 50 basis points to a record-low 3.75% to cushion the economic blow of the coronavirus pandemic but signaled no rush to cut again and emphasized the need for more economic reforms.

• Thursday, March 19th 2020 - 08:23 UTC

  Mnuchin denies potential US unemployment of 20% but considers a US$ 2.000 stimulus check to every American

  

  Treasury Secretary Steven Mnuchin on Wednesday vowed that unemployment would not reach 20%, seeking to clarify comments he made a day earlier on a worst-case economic scenario resulting from the coronavirus pandemic.

• Thursday, March 19th 2020 - 08:20 UTC

  Russian economy battered by the oil price war with Saudi Arabia

  

  Russia, hit by falling oil prices and the coronavirus outbreak, has announced the formation of a US$4 billion fund as part of a package of measures to support the economy.

• Wednesday, March 18th 2020 - 07:20 UTC

  Policy Action for a Healthy Global Economy

  

  By Kristina Georgieva (*) – While quarantining and social distancing is the right prescription to combat COVID-19’s public health impact, the exact opposite is needed when it comes to securing the global economy.

• Wednesday, March 18th 2020 - 07:12 UTC

  Brazilian meatpackers considering suspending operations because of China

  

  Brazilian meatpackers JBS and Minerva Foods are considering suspending operations at some slaughterhouses in Brazil due to supply chain issues from China, JBS and sources close to Minerva said this week.

• Tuesday, March 17th 2020 - 08:15 UTC

  Brazil US$ 30bn fiscal boost to prop the economy and soften Covid-19 impact

  

  Brazil’s government on Monday announced emergency measures to inject nearly 150 billion reais (US$ 30 billion) into the economy to soften the blow from the coronavirus pandemic.

• Tuesday, March 17th 2020 - 08:10 UTC

  Dispatch from Uruguay: “Democracy or Bureaucracy & Mediocrity”

  

  By David P. Michaels (*) - Luis-Alberto Lacalle Pou, Uruguay’s recently inaugurated President, faces one of the most significant challenges in Uruguay’s recent history.

• Tuesday, March 17th 2020 - 08:02 UTC

  British supermarkets appeal to consumers to be more considerate after shelves were plundered: “we have adequate supplies”

  

  British supermarkets have called on consumers to be more considerate and reiterated they have adequate supplies, as the coronavirus saw shelves plundered and a surge in online orders. The country's leading grocery retailers, including Tesco, Sainsbury's and Waitrose, penned a joint letter to customers, which ran in newspapers on Sunday and Monday appealing for calm.

• Tuesday, March 17th 2020 - 07:53 UTC

  Boris asks UK industry to manufacture health equipment, and considers using hotels as hospitals if needed for the pandemic

  

  Britain has asked manufacturers including Ford, Honda and Rolls Royce to help make health equipment including ventilators to cope with the coronavirus outbreak and will look at using hotels as hospitals.

• Tuesday, March 17th 2020 - 07:34 UTC

  Nightmare: assessing the coronavirus damage for the cruise industry

  

  The novel coronavirus is becoming a financial and public-relations nightmare for the cruise industry, from failed quarantine attempts on ships to passenger lawsuits and a stream of cancellations.