Economy

Thursday, March 26th 2020 - 08:01 UTC
World Bank and IMF call on bilateral creditors to suspend payments from poor countries

The World Bank Group and International Monetary Fund have issued the following joint statement to the G20 concerning debt relief for the poorest countries:
Wednesday, March 25th 2020 - 08:56 UTC
Pandemics: Bolsonaro and governors clash over priorities, the economy and jobs or public health

Brazil's largest city of Sao Paulo began fifteen days of lockdown to fight the spread of the coronavirus on Tuesday. This after Brazil's own president, Jair Bolsonaro, has faced fierce criticism for his blasé treatment to combat the threat, which he describes as a quote “little flu.”
Wednesday, March 25th 2020 - 08:55 UTC
YPF admits gasoline demand is down 70% and diesel 50%

Argentine state-run oil company YPF has already seen a drop in energy consumption because of a nationwide mandatory quarantine over the coronavirus announced last Friday, a company executive said in an internal video obtained by La Nacion on Tuesday and confirmed by the company.
Wednesday, March 25th 2020 - 08:54 UTC
Some of the things Covid 19 can be expected to change

By Gwynne Dyer – They teach you in journalism school never to use the phrase “…X has changed the world forever”. Or at least they should. Covid-19 is certainly not going to change the world forever, but it is going to change quite a few things, in some cases for a long time. Here’s eight of them, in no particular order.
Wednesday, March 25th 2020 - 08:37 UTC
Announced US stimulus plan helps a slight recovery of oil prices

Oil rose over 3% on Tuesday after the U.S. Federal Reserve said it would take steps to bolster the economy and on growing hopes the United States will soon reach a deal on a US$ 2 trillion coronavirus economic package.
Wednesday, March 25th 2020 - 07:52 UTC
Trump wants to loosen the economy's lockdown by Easter: “US is not built to shut down”

President Donald Trump announced on Tuesday he wants to loosen the coronavirus lockdown in the United States and restart the economy within three weeks, calling social distancing measures too disruptive.
Tuesday, March 24th 2020 - 10:03 UTC
With the pandemic, Argentina has “a thousand more reasons” to delay debt payments

Argentina does not plan to resume debt payments to the International Monetary Fund (IMF) for five years, buying time to pull the economy out of a worsening recession after the coronavirus outbreak led the government to impose a stay-at-home order until the end of March which also put the brakes- on activity
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.