Economics
The Bank of Mexico lowers interbank rate for the third time in 2020
The Board of Governors of the Bank of Mexico announced the next market-expected decrease in the interbank interest rate to 5.5% amid the unfolding crisis caused by the COVID-19 pandemic. “Monetary policy and the economy as a whole are facing serious challenges. Given the expected negative effects...
Survey Revealed Longer COVID-19 Impact On The U.S. Small Business Sector
Despite the uncertainty, the small and medium sized U.S. corporate sector seem to show “surprising resiliency”. Veem is a “global payments network” based out of San Francisco. It has conducted a survey wherein 81% of the small companies in the U.S. are expecting their business to face the effects...
Over 300 Leaders From 6 Continents Call On IMF And World Bank To Cancel Debt Of Poor Nations
The International Monetary Fund and World Bank were urged by more than 300 lawmakers from various parts of the world on Wednesday to forgo the debt of the poorest countries as a measure to help out such countries because of the novel coronavirus pandemic. The global financial institutions...
US Energy Department: Oil reserves growth will gain speed in Q2, slowdown expected later
The US Department of Energy expects accelerated growth in world oil reserves in the second quarter to 11.5 million barrels per day from 6.6 million barrels per day in the first quarter, further reducing them, according to a monthly short-term forecast by the US Energy Information Administration...
Calls For Fresh Talks On Trade With US Made By Chinese Advisers, Says Global Times
A report published in a state-controlled tabloid citing sources close to the Chinese government have claimed that there is a rising chorus of hawkish voices in the country that are demanding the Beijing make a review of its so called phase 1 trade deal with the United States and some of those...
VAT In Saudi Arabia Tripled As Coronavirus Hits Country’s Economy
The oil dependent Saudi Arabian economy has been hit hard by the novel coronavirus pandemic as well as a very sharp drop in the global oil prices. As a consequence of the hit, the country has decided to increase value added tax (VAT) by three folds as a part of its austerity measures to support the...
Fed Policymakers Say US Economy And Job Market Will Not Show A ‘V’ Shaped Recovery”
According to officials of the United States Federal Reserve, a quick return to growth should not be expected by Americans even as many parts of the largest economy of the world start to reopen after weeks of lockdowns which has managed to slow down the spread of the coronavirus pandemic in the...
Peru's exports show record drop in 10 years in March
Peru's exports showed a record decline in 10 years in March, including due to COVID-19; a decline is observed in all sectors, the Peruvian Exporters Association (ADEX) said. "Exports in March amounted to $ 2.2 billion, falling by 40.7%, this is the most severe drop in recent years, even deeper than...
Italy’s Debt To GDP To Rise Ot 160% This Year, Says EU
The coronavirus pandemic has hit Italy hard and its economy is expected to shrink this year. According to estimates that shrinking will result in a rise of the country’s public debt to nearly 160 per cent of its gross domestic product for the current year. This was stated by the European Union...
UK New Car Registration In April Falls To Lowest Since 1946
The ferocity of the impact on the economic by the novel coronavirus pandemic in the United Kingdom was evident in the new car sale data of the country for the month of April which saw a year on year drop of 97 per cent and reaching the lowest level of any month since February 1946. Lockdown imposed...
