The World Bank has approved a $1 billion loan for Kenya to help it close a gaping budget deficit and tackle the economic shocks from the coronavirus pandemic, both sides said on Wednesday.
Japan must maintain an appropriate “policy mix” by adopting strong fiscal spending to go with the Bank of Japan’s powerful monetary easing to protect the economy and jobs from the coronavirus fallout.
Euro zone annual inflation in April was 0.3%, the lowest level in nearly four years.
Germany’s car manufacturers are once again being bailed out by China. Having skidded to a halt in February, Chinese vehicle sales are rebounding—particularly at the luxury end of the market.
Consumer-finance company was accused of making loans that borrowers couldn’t afford to repay
Sterling edged lower on Wednesday as UK inflation fell below 1%, its lowest in nearly four years, fueling speculation the Bank of England (BoE) could move to negative interest rates to bolster an economy hammered by the coronavirus pandemic.
Measures to help some of the world’s poorest nations fight the coronavirus pandemic accelerated with the prospect of new cash from official creditors and the approval of loan-payment suspensions, while private creditors were still assessing ways to contribute.
Citi’s move comes as Wall Street rivals have rolled out extra perks to staff in a bid to relieve some of the pressure of the current lockdown restrictions
South Africa’s Land Bank told lawmakers on Wednesday it was negotiating with a consortium of lenders to try to restructure its debt facilities after it defaulted on 50 billion rand ($2.7 billion) of loans in April.
Britain’s inflation rate sank in April to its lowest since August 2016 as the coronavirus pandemic pushed down global oil prices and clothing stores slashed prices, bolstering the prospect of more Bank of England stimulus next month.