Market reports suggest that Argentine beef shipments to the European Union have reduced to almost zero amid the global coronavirus pandemic. Sales to China, the main buyer, have dropped below 2019 levels.
Hopes that the economy-crushing coronavirus pandemic might be easing sent Wall Street climbing sharply on Monday with all three main indices higher at the close of trading.
The COVID-19 outbreak in the United States has caused millions of people to lose their jobs and brought the economy to its knees but it has not dethroned the American dollar. On the contrary, the currency has risen in value this year, gaining six percent from its lowest point reached in early March, according to the US dollar index, which measures the greenback's value against a basket of other currencies.
The United States on Monday warned China not to take advantage of the coronavirus pandemic to exert itself in the South China Sea after Vietnam said Beijing sank a trawler.
Argentina is postponing payments on up to US$ 10 billion debt (interests and capital) that was issued under local law until the end of the year, the government said in a decree late on Sunday, in a bid to relieve pressure over looming foreign currency payments.
Argentines left their homes in droves as banks reopen their branches to give out government assistance. Thousands of pensioners and citizens who receive government welfare lined up outside banks to get their monthly payments. Branches, which have been closed since a nationwide lockdown began March 20, reopened Friday so that citizens who can't receive the payments on debit could receive the cash.
Moody's downgraded Argentina’s credit rating on Friday, cutting it to Ca from Caa2 in a move that reflects the firm’s expectation that private creditors will incur losses as a result of the government’s efforts to restructure its sovereign debt.
The number of Americans filing claims for unemployment benefits shot to a record high of more than 6 million last week as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.
The World Bank Board of Directors approved today a loan of US$20 million to support Paraguay in strengthening its health system in the face of the coronavirus pandemic (Covid-19). In the context of the country's current health situation, already affected by the worst dengue outbreak in recent years, the project will help strengthen the already overburdened health system through the purchase of medical supplies and equipment.
The World Bank Board of Directors today approved a US$ 35 million emergency loan to support the Argentine government efforts to minimize the impact of the COVID-19 pandemic on the health system through the procurement of medical supplies and equipment. This financing forms part of a World Bank fast track package of up to US$ 14 billion to help countries cope with the health and economic impacts of the COVID-19 pandemic.
Argentina will continue talks this week and next with creditors over restructuring its US$ 83 billion in foreign debt, Economy Minister Martin Guzman said after the country missed the March 31 deadline it had set previously.
On the advice of the UK Prime Minister, the Falkland Islands Government Office in London is closed and all staff is working from home. Despite this FIGO is working as normal and remains available to help all Islanders in the UK, Falkland Islands organizations, FIG, and anyone traveling to and from the Islands.
Although Falklands have no anticipated difficulties with sea freight logistics to supply the Islands, nevertheless it has the challenge of maintaining West Falkland and the other outer islands with the necessary provisions. Let us not forget that the Falklands are an archipelago that includes two main landmasses and some 700 minor islands.
Almost one million people have claimed "universal credit" welfare payments in the UK in the past two weeks, exposing the massive economic hit from Boris Johnson's coronavirus lockdown.
Carnival Corp, the world's largest cruise operator, said it has raised US$6.25 billion by issuing new debt and equity on Wednesday, borrowing at a high cost to weather the economic storm of the coronavirus pandemic.
The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.
The Falkland Islands Government, FIG, confirmed on Wednesday that the normal shipping services supplying goods to the Islands remain in place and understand that major suppliers are expecting new stock to arrive in April as planned.
The following is the statement by FAO's chief Qu Donguy, WHO's Tedros Adhanom Ghebreyseus and WTO's director-general Roberto Azevedo.
The Bahamas flagged vessel named Bader III, which specializes in transporting live cattle, docked last weekend at Estaleiro Rio Grande Pier, Brazil, to handle the largest ever shipment of such cargo at the port.
Wall Street’s three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the coronavirus pandemic.