Kristalina Georgieva and David Malpass bump elbows at the end of a joint press briefing on COVID-19 in Washington on Wednesday. Agence France-Presse
The World Bank and the International Monetary Fund on Wednesday urged official bilateral creditors to provide immediate debt relief to the world’s poorest countries as they grapple with severe consequences of the rapidly spreading coronavirus.
Policymakers from the Group of 20 industrialised countries are worried that the weakness evident in key economies could spread, especially if elevated trade tensions, such as those between the United States and China, escalate further.
More than 570 people have been infected with the coronavirus across China and Wuhan, the city at the centre of the outbreak, has been placed under effective quarantine.
G7 finance ministers on Friday backed an extension of a G20 bilateral debt relief initiative for the world’s poorest countries, but said it must be revised to address shortcomings hindering its implementation.
New orders for key US-made capital goods increased more than expected in August and shipments raced to their highest level in nearly six years, suggesting a rebound in business spending on equipment was underway after a prolonged slump.
Dubai Airport Free Zone Authority (Dafza), announced the signing of a memorandum of understanding with the Federation Israeli Chambers of Commerce (FICC), to define frameworks
The 10-year swap rate on the Dirham has steadied at 1.6 per cent by the end of H1-2020, only rising to 1.9 per cent during the first week of June before falling against to 1.6 per cent by the end of the month, according to the figures of the Central Bank of the United Arab Emirates.