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Economy
G20 agrees debt freeze for world’s poorest countries
Finance officials from the Group of 20 major economies agreed on Wednesday to suspend debt service payments for the world’s poorest countries from May 1 until the end of the year, as a group of private creditors also backed offering debt…
IMF’s Georgieva says wants to triple concessional financing for poor countries
International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday the Fund was deploying all its resources and was looking to triple its concessional financing for the poorest countries to over $18 billion.
“We have…
IMF, World Bank leaders praise G20 debt relief initiative
International Monetary Fund Managing Director Kristalina Georgieva and World Bank David Malpass on Wednesday praised a new G20 debt relief agreement that suspends bilateral debt servbice payments by poor countries.
Georgieva, in a…
Qatar Airways signs $850 million financing deal with Standard Chartered
Qatar Airways and Standard Chartered have signed an $850 million financing deal for seven Boeing 787-9 aircraft, a statement from the Qatari airline said on Tuesday.
French economy to contract 8% this year
The French economy is expected to contract 8% this year, the finance minister said on Monday, revising the governments outlook for the second time in a week.
“We will have a growth forecast of -8 in the updated budget law,” Bruno Le…
Oman says will cut oil output by 200,000 bpd from May 1 as OPEC+ pact
Oman has told its oil producing companies to cut 200,000 barrels per day starting from May 1 until the end of June in line with OPEC+ crude supply reduction pact and will inform its customers of the same plan, its oil ministry said.
OPEC…
IMF to provide debt relief to help 25 countries deal with pandemic
The International Monetary Fund said on Monday it would provide immediate debt relief to 25 member countries under its Catastrophe Containment and Relief Trust (CCRT) to allow them to focus more financial resources on fighting the…
U.S. oil sanctions against Iran are unjust: Rouhani
Iranian President Hassan Rouhani said U.S. sanctions against Iran and Venezuela were unjust in a telephone call with Venezuelan President Nicolas Maduro on Monday and called for the two countries to cooperate together within the OPEC+…
Trump: It’s my decision when to reopen U.S. economy
U.S. President Donald Trump said on Monday it was his decision when to reopen the country’s economy, not that of state governors.
“It is the decision of the President, and for many good reasons. With that being said, the Administration…
Saudi energy minister says effective global oil cuts above 19 million bpd
Saudi Arabia’s energy minister said on Monday that effective global oil supply cuts would amount to around 19.5 million barrels per day, taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and oil purchases…