Venezuela has entered into an agreement with the United Nations Development Program (UNDP) to channel some of the republic’s gold reserves held by the Bank of England to supply food and medicine necessary to fight the coronavirus pandemic, Reuters reported with reference to Head of the Central Bank...

Global energy investment in 2020 will fall by one fifth (20%), or almost $ 400 billion, compared to 2019 due to the COVID-19 pandemic. It will be the largest decline in history, according to a new annual report by the International Energy agency World Energy Investment 2020 (WEI 2020). The oil...

Bank of Canada intends to provide significant stimulus to the economy for the foreseeable future to help the country recover from the damage caused by the novel coronavirus pandemic, the Governor of the Bank of Canada Stephen Poloz said this on Monday. He is confident that the Canadian economy is...

Failure to arrive at a COVID-19 treatment could prove a bit global economic “tripping point”. Last week, the indexes of S&P 500 as well as Dow Jones slumped as investor expect to face “a second wave of coronavirus infections” as many of the countries decide to reopen their economy. In fact,...

In the first quarter of 2020, the German economy contracted by 2.2% compared to the fourth quarter of 2019, according to the final data of the Federal Statistical Agency of Germany (Destatis). The fall in the country's GDP was the highest since the first quarter of 2009. In annual terms, the fall...

There will be negative economic consequences for the United States if the US President Donald Trump goes ahead and implements his planned restrictions on temporary work visas to the country, warned a range of business groups in an 11th-hour appeal to Trump. The business groups said that if skilled...

Crisis hit South American economy of Argentina defaulted on payments on about $500 million of bonds coupons on Friday, whose payments had already been delayed. According to reports from creditors and a ratings agency, this is the ninth sovereign debt default by the country.   The country has...

For the first time in three decades, the Chinese government has skipped setting that goal in its annual projections and plans as the country’s Premier Li Keqiang did not announce an economic growth target for this year.   The government expected its annual budget deficit for 2020 to rise to...

The U.S. won’t be buying back debt but could borrow long-term money. Steven Mnuchin, the “Treasury Secretary” of the U.S. doesn’t see the country buying back debt while his plan is to borrow long-term money so as to “lock in low interest rates” while the uncertainty of COVID-19 pandemic sways the...