Economy

• Saturday, March 21st 2020 - 09:24 UTC

  IMF's technical guidance on Argentine public debt sustainability

  

  At the request of the Argentine authorities and reflecting close collaboration with them, the International Monetary Fund (IMF) released on Friday a technical note prepared by IMF staff on Argentina’s public debt sustainability.

• Saturday, March 21st 2020 - 09:09 UTC

  London's support for Falklands to deal with the impacts of the pandemic

  

  In a display of support from London, the UK Government announced it is working closely with the Overseas Territories to ensure they receive the help that is necessary to face the challenge and consequences of Covid-19.

• Friday, March 20th 2020 - 09:43 UTC

  Argentina successfully rolls over local bonds in Pesos

  

  Argentina’s economy ministry said on Thursday it had exchanged around 257 billion pesos (US$ 4 billion) in a debt swap for new instruments maturing between 2021-2024, as the government looks to restructure its debt amid a credit crunch.

• Thursday, March 19th 2020 - 08:59 UTC

  Coronavirus: Argentina unveils stimulus package; ample support from the political system to the strategy

  

  Argentina unveiled this week a 700 billion Pesos (some US$10 billion) stimulus package to try to sustain economic activity, avert shortages of food and medical supplies, help companies and protect workers and vulnerable groups affected by the worsening Covid 19 pandemic.

• 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.