Venezuela requests $5 billion from IMF

Venezuelan President Nicolas Maduro formally requested economic assistance from the International Monetary Fund as the socialist South American nation prepares to combat COVID-19. Minister of Foreign Affairs Jorge Arreaza posted the letter dated March 15, 2020, from Maduro on Twitter. https://twitter.com/jaarreaza/status/1240035272601059328 In the letter, Maduro requests $5 billion from the IMF's Rapid Financing Instrument in … Continue reading Venezuela requests $5 billion from IMF

Border closures in Argentina cause export delays at major port

The government of Argentina's decision to close its borders to foreigners amid the coronavirus outbreak led to delays at some major ports. According to Reuters, the port in the city of Rosario, located on the Parana River in the province of Santa Fe roughly 300 kilometers northwest of Buenos Aires, experienced delays on Monday. Issues … Continue reading Border closures in Argentina cause export delays at major port

Chile cuts rate 75 bps to help credit markets function

  Chile's central bank cut its monetary policy rate by 75 basis points to 1.0 percent to ease the negative impact on the economy from the global spread of the coronavirus and launch a set of measures "to ensure the normal functioning of credit markets and the effective transmission the increased monetary stimulus." It is … Continue reading Chile cuts rate 75 bps to help credit markets function

IMF Communications Director Addresses Coronavirus, Talks with Argentina, and Situation in Ecuador

"2015 World Bank Group / International Monetary Fund Spring Meetings" / April 13, 2015 / Simone D. McCourtie - World Bank / Flickr / CC BY-NC-ND 2.0

Photo: Simone D. McCourtie / World Bank / Flickr / April 13, 2015 / CC BY-NC-ND 2.0 International Monetary Fund Director of Communication Gerry Rice addressed an empty room on Friday, March 12, for a virtual press briefing. Due to the ongoing coronavirus pandemic, the IMF will hold its annual spring meeting virtually as well. … Continue reading IMF Communications Director Addresses Coronavirus, Talks with Argentina, and Situation in Ecuador