Unrest reigned Thursday among Venezuelans as Friday's monetary reconversion which will remove six zeros from “sovereign bolivars” loomed over, prompting the exchange rate with the US dollar to skyrocket.
Economic activity in Argentina fell 1.2% monthly in April and accumulated three months of decline, according to data released Tuesday by the National Institute of Statistics and Census (INDEC).
Long queues have been forming outside food banks and help centers in Italy's financial capital Milan as the economic devastation caused by the coronavirus has deepened before Christmas.
Argentina’s ruling coalition, Frente de Todos, is seeking to impose a one-time tax on wealthy citizens as part of a strategy to solidify the alliance’s populist credentials while boosting government revenue amid a deteriorating economic crisis.
Argentina's economic activity plummeted in April, the first full month that social-distancing measures that shut down non-essential businesses and other activities were in effect.
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.
Brazil’s Real fell on Wednesday to a fresh all-time low close to 5.40 per dollar, as expectations intensified that the central bank will cut interest rates significantly in the coming weeks to combat the coronavirus-fueled economic crisis.
World leaders on Thursday promised US$5 trillion to stave off global economic collapse from the coronavirus pandemic that has killed 21,000 people and shut down huge swathes of the globe.
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.
From Exxon Mobil Corp to Royal Caribbean Cruises Ltd, companies rushed to borrow more money and boost their cash coffers on Tuesday, as the market turmoil fueled by a plunge in oil prices and the global coronavirus outbreak raised the prospect of an economic downturn.