Economy

Friday, April 17th 2020 - 09:59 UTC
Argentina sets out its debt restructuring proposal to private creditors with a sizeable cut (62%) of interest payments

Argentina sketched out its debt restructuring proposal to international creditors on Thursday, involving a three-year grace period, large coupon cuts and a smaller reduction in capital, as it looks to win over bondholders to a deal.
Friday, April 17th 2020 - 09:58 UTC
The Falklands' tourist season that fell off the cliff

The 2019/20 tourist season is likely to be remembered as, “the one that fell off the cliff in March,” summed up Falkland Islands Tourist Board Executive Director Steph Middleton this week. But despite the impact of the pandemic it wasn’t all bad up until then confirmed, Mrs. Middleton and other industry members.
Friday, April 17th 2020 - 09:42 UTC
China's economy contracts 6,8% in Jan/March quarter, first time since 1992

China’s economy shrank for the first time since at least 1992 in the first quarter, as the coronavirus outbreak paralyzed production and spending, raising pressure on authorities to do more to stop mounting job losses.
Thursday, April 16th 2020 - 11:10 UTC
G20 supports temporary halt to debt payments by world's poorest nations

The Group of 20 nations announced support on Wednesday for a temporary halt to debt payments by the world's poorest nations as they struggle to deal with the coronavirus pandemic.
Thursday, April 16th 2020 - 11:04 UTC
IMF fears social unrest could erupt if measures to mitigate pandemic are seen as unfair or insufficient

New waves of social unrest could erupt in some countries if government measures to mitigate the coronavirus pandemic are seen as insufficient or unfairly favoring the wealthy, the IMF said in a new report on Wednesday.
Thursday, April 16th 2020 - 10:47 UTC
“Coronavirus diplomacy” awarded South Korea's ruling party a landslide victory

South Korea's ruling party won a landslide victory in Wednesday's general election, partial results showed after the coronavirus pandemic turned the political tide in President Moon Jae-in's favor.
Wednesday, April 15th 2020 - 13:55 UTC
Brazilian agri-business exploring and confirming new markets

Brazilian agriculture continues to penetrate the international market further. The month of March was marked by the opening of new markets for Brazilian products and the expansion of sales in other locations. Egypt, for example, has enabled 42 Brazilian establishments to supply meat – 27 for poultry and 15 for beef – in addition to the renewal of licenses for 95 companies – 82 for beef and 13 for poultry.
Wednesday, April 15th 2020 - 13:14 UTC
As demand from China and G7 members plunges, LAC faces sharp decline in growth, World Bank report

The Latin America and Caribbean (LAC) region is seeing a sharp decline in growth due to the COVID-19 (coronavirus) crisis, which requires several policy responses to support the most vulnerable, avert a financial crisis, and protect jobs, according to a new report from the World Bank.
Wednesday, April 15th 2020 - 10:04 UTC
US will hold nations and individuals responsible for the pandemics accountable, announces Pompeo

The United States is seeking to “fundamentally change” the World Health Organization, Secretary of State Mike Pompeo said on Tuesday after Washington decided to withhold contributions during the coronavirus pandemic. The United States is the top donor to the WHO, offering US$400 million last year.
Wednesday, April 15th 2020 - 10:02 UTC
IMF approves immediate debt relief for 25 of the poorest country members

IMF Managing Director Ms. Kristalina Georgieva announced that the Executive Board approved immediate debt service relief to 25 of the IMF’s member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic.