Economy

Friday, May 8th 2020 - 08:49 UTC
World Bank US$ 500 million loan to help Ecuador cover budget needs

The World Bank Board of Directors approved a flexible US$500 million loan to help cover Ecuador's budget needs during the Covid-19 emergency and to promote economic recovery. The loan is the second in a series of three Development Policy Financing (DPF) operations. The first loan of this series was disbursed in June 2019. The operation has been adapted to the current context and to the country’s needs during the pandemic.
Friday, May 8th 2020 - 08:39 UTC
Nearly a fifth of US children not getting enough to eat since pandemic outbreak

Nearly a fifth of young children in the United States are not getting enough to eat since the coronavirus pandemic erupted, according to research released on Wednesday, highlighting the broader health impact of the crisis.
Friday, May 8th 2020 - 08:39 UTC
Michigan and California reopen lockdowns with go ahead for the auto industry

Michigan and California, two U.S. manufacturing powerhouses, acted on Thursday to allow factories to reopen from coronavirus lockdowns over the next few days, as millions more Americans joined the ranks of workers left jobless by the pandemic.
Friday, May 8th 2020 - 08:26 UTC
US russet potatoes farmers giving away production before next July crop

When Tina Yates pulled her truck up to a mall in western Washington state on Thursday, workers waved her past hundreds of cars waiting to pick up free russet potatoes.
Thursday, May 7th 2020 - 13:10 UTC
Hundreds of activists in Buenos Aires demand food for soup kitchens

Several hundred activists blocked this week one of Buenos Aires' main avenues for hours to demand food for soup kitchens that feed hundreds of thousands in poor neighborhoods during the mandatory lockdown aimed at preventing the spread of the new coronavirus.
Thursday, May 7th 2020 - 13:04 UTC
Chile anticipates a glut of some 200.000/300.000 tons of copper in 2020

The global copper market is headed for a surplus of between 200,000-300,000 tons in 2020, the head of the miner Antofagasta told Chilean media, with operation halts at some mines offsetting depressed demand due to the coronavirus pandemic.
Thursday, May 7th 2020 - 13:01 UTC
Bank of England preparing new stimuli; economy could shrink 14% this year but bounce back 15% in 2021

The Bank of England said Britain could be headed for its biggest economic slump in over 300 years due to the coronavirus lockdown and kept the door open on Thursday for further stimulus.
Thursday, May 7th 2020 - 12:58 UTC
Chilean economy contracts 3.5% in March over a year ago

Chile’s economic activity dropped 3.5% in March from a year earlier, the central bank said. The bank’s IMACEC economic activity index declined 5.7% compared with the previous month, as the country went into an economic and social shutdown after the arrival in Chile of the new coronavirus.
Thursday, May 7th 2020 - 12:47 UTC
Restructuring Argentina’s Private Debt is Essential

By Joseph Stiglitz, Edmund S. Phelps, and Carmen Reinhart (*) – Argentina's creditors are being asked to accept a proposal that would reduce their revenue stream but make it sustainable. A responsible resolution will set a positive precedent, not only for Argentina but for the international financial system as a whole.
Thursday, May 7th 2020 - 07:50 UTC
Trump shifts primary focus to reviving US business and social life; Democrats criticize “undermining science”

President Donald Trump said on Wednesday his coronavirus task force would shift its primary focus to reviving US business and social life while acknowledging that reopening the economy could put more lives at risk.