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Economy
U.S. sanctions, coronavirus make for Iran’s toughest year, Rouhani says
Iranian President Hassan Rouhani said on Sunday that his country is experiencing its toughest year because of U.S. sanctions coupled with the COVID-19 pandemic.
The coronavirus crisis has exacerbated economic problems that worsened…
World Bank to loan $700 million to help Colombia coronavirus response
The World Bank has approved a loan of $700 million to Colombia to help the Andean country in its fight against the coronavirus pandemic, it said on Friday.
“We are working quickly so that Colombia can count on the resources it needs in…
IMF board approves $5.2 billion, 12-month loan program for Egypt
The International Monetary Fund threw a lifeline to Egypt on Friday, saying its executive board approved a new $5.2 billion, 12-month Stand-By Arrangement that aims to help the country cope with the coronavirus pandemic and plug budget and…
WHO-led coalition says $31.3 billion needed for tools to fight COVID-19
A World Health Organization-led coalition fighting the COVID-19 pandemic is asking government and private sector donors to help raise $31.3 billion in the next 12 months to develop and deliver tests, treatments and vaccines for the disease.…
IMF’s Georgieva says virus crisis could ultimately test $1 trillion war chest
International Monetary Fund Managing Director Kristalina Georgieva said on Friday that the global economic crisis spurred by the coronavirus could ultimately test the Fund’s $1 trillion in total resources, “but we’re not there yet.”…
Oil dips on rise in U.S. coronavirus cases
Oil prices dipped on Friday, erasing earlier gains, as new coronavirus cases spiked in the United States and China, and on growing concerns about rising U.S. output ticking up while crude stockpiles sat at record highs.
Brent crude LCOc1…
ECB: Euro zone bank lending continues to surge amid crisis
Lending to euro zone companies continued to surge in May as firms relied heavily on bank credit to stay afloat amid the continent’s coronavirus-related lockdown, data from the European Central Bank showed on Friday.
Lending growth to…
Spain’s economy minister Calvino favourite to lead Eurogroup
Spain has proposed its economy minister, Nadia Calvino, to head the influential Eurogroup of 19 euro zone finance ministers, the government said on Thursday, as EU officials tipped her to secure the job.
“It would be an honour for the…
Oil falls on worries about a new surge in coronavirus infections
Oil prices fell on Wednesday, reversing the previous session’s surge as worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies.
Brent crude, which on Tuesday rose to its…
Putin raises tax for wealthy Russians
President Vladimir Putin raised income tax for wealthy Russians and offered new state handouts to families with children on Tuesday, days before the country votes on reforms that could keep him in power until 2036.
In a televised speech…