Britain formally left the European Union at the end of January but a transition period is in effect until Dec. 31, during which time little changes.
The IMF mission will stay in Argentina until Feb. 19 with the aim of observing the country’s economic and social situation, and the progress of the government’s economic program, the statement said.
The world’s second-biggest economy has been hit by a fast-spreading coronavirus epidemic that has killed more than 1,500 people.
Passenger travel would likely fall 45% on-year during the 40-day travel season that ends Feb. 18, Liu Xiaoming, a vice minister at the transport ministry, said at a briefing in Beijing Saturday. Between Jan 25. and Feb. 14, airlines carried an average of 470,000 people a day, only a quarter of last year’s volume. Passenger numbers from Feb. 15-23 are estimated to be one 10th of the peak period, said Li Jian, deputy head of the Civil Aviation Administration of China.
A leap in coronavirus cases in Hubei gave markets pause – for all of 24 hours. Then attention shifted back to the global case-count and the rally resumed. But while investors are focused on containment, the world’s second-biggest economy is idling. President Xi Jinping may have urged officials to refrain from “more restrictive measures,” to limit the economic fallout but that’s happening anyway. Steel mills lack supplies for want of drivers. Empty restaurants are throwing out food, while out at sea, freighters are scrambling to re-route perishables, including several hundred containers of chilled chicken feet. Automaker GAC allows only half its employees to work each day at its Guangzhou headquarters, and it’s a similar story at many other firms.
Speaking at the Munich Security Conference, Georgieva said the next few weeks would be crucial to build up a “bottom-up” picture of the impact of the virus in China and worldwide.
“We will support qualified firms so that they can resume work and production as soon as possible, helping maintain stable operations of the economy and minimizing the epidemic’s impact,” Fan Yifei, a vice governor at the People’s Bank of China, told a news conference.
“We’d love to have a 10% middle-class tax cut, and we would love to strengthen and make permanent some of the other tax cuts,” National Economic Council Director Larry Kudlow said in an interview with Fox Business Network, according to excerpts released by the network.
SARASOTA, Fla. (Reuters) – The Federal Reserve is exploring collaborations with the private sector and other groups as it works to develop a faster payments system, Cleveland Fed President Loretta Mester said Friday.
The European planemaker said it would continue discussions with its U.S. customers to “mitigate effects of tariffs insofar as possible” and hoped the U.S. Trade Representative’s office would change its position.