Economy

• 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.

• 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.