Additionally, the central bank said it was boosting its Main Street Lending Program for small businesses with an additional $600 billion in loans as well as $75 billion in funding from the Treasury Department via the Coronavirus Aid, Relief, and Economic Security Act (CARES) fiscal stimulus.
Among the actions taken Thursday, the Fed activated a loan program for municipal governments, as well as additional support for the Paycheck Protection Program, which the Small Business Administration rolled out last week. The program provides loans to businesses with fewer than 500 employees.
As for the Ministry of Industry and Trade, it has to introduce solutions to facilitate export activity, execute the signed free trade agreements, ensure ample supplies of goods with reasonable prices for local consumers and disburse capital for key projects.
This looks much more plausible. Governments are going to be wary of the virus coming back. Consumers and businesses are going to take time to get over the shock. It will take some time before many people feel safe to travel abroad. There may be deeper changes too: more working from home, a further blow […]
President Trump said he doesn’t want to give a date for reopening the country, even as he expresses a desire for that to happen as soon as possible. Mr. Trump has previously offered an Easter goal for relaxing social distancing guidelines and reopening businesses, before extending that to April 30. Governors ultimately control when businesses […]
UNITED NATIONS: The world economy will go into recession this year with a predicted loss of trillions of dollars of global income due to the coronavirus pandemic, spelling serious trouble for developing countries with the likely exception of India and China, according to a latest UN trade report. With two-thirds of the world’s population living […]
“To be precise about when that would be, I don’t think that would be appropriate to say. I will just say that it does depend on people staying home staying healthy and doing everything we can to get the virus under control. The more we do that, the sooner it will be safer to go […]
Federal Reserve Chairman Jerome Powell warned Thursday against prematurely breaking from social distancing practices as President TrumpDonald John TrumpSenators demand more details from Trump on intel watchdog firing Overnight Health Care: Trump steps up attack on WHO | Fauci says deaths could be lower than first projected | House panel warns federal stockpile of medical […]
“It’s going to be temporary, but it’s putting stress on everything,” says Steve Schwarzman, chief executive officer of Blackstone Group Inc., as cited by Bloomberg Television. Concerted Action Economists underscore the need for global coordinated approach to efforts to mitigate fallout from the pandemic, as the Bank for International Settlements cautions that disjointed measures might […]
Further, against an increasingly uncertain global environment, economic growth in the developing countries and territories of the Asia-Pacific region weakened considerably in 2019 to 4.3 per cent, a sharp slowdown from 5.3 per cent in 2018 and 5.0 per cent projected earlier for 2019. The slowdown was led by large economies, namely China, India and […]