Tag: economy

• Friday, March 27th 2020 - 09:08 UTC

  World leaders pledge US$ 5 trillion to address the global economic collapse

  

  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.

• Thursday, March 26th 2020 - 08:45 UTC

  Argentine economy contracted 2,2% last year and could drop another 2% in 2020

  

  Argentina's GDP contracted 2.2% last year, hit by the downfall of manufacturing, retail and financial activities, according to the official stats office, Indec. In the last quarter of 2019 the economy dropped 1% over the previous quarter and 1.1% compared to the fourth quarter of 2018.

• 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 - 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

• 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 - 08:57 UTC

  Pots and pans protest against Bolsonaro; Brazilian markets crash and Congress approves national emergency

  

  The coronavirus outbreak hammered Brazil on Wednesday, crushing local markets, infecting more members of the country’s political elite and prompting loud protests against President Jair Bolsonaro, whose son waded into a diplomatic spat with China.

• Wednesday, March 18th 2020 - 07:24 UTC

  IMF rejects Maduro's request for coronavirus aid loan: who runs Venezuela?

  

  The International Monetary Fund has quickly rejected a surprise request on Tuesday by Venezuela for an emergency US$ 5 billion loan to fight the new coronavirus, which threatens to push its already battered economy over the edge.

• Tuesday, March 17th 2020 - 08:15 UTC

  Brazil US$ 30bn fiscal boost to prop the economy and soften Covid-19 impact

  

  Brazil’s government on Monday announced emergency measures to inject nearly 150 billion reais (US$ 30 billion) into the economy to soften the blow from the coronavirus pandemic.