Decline in the eurozone economy due to the fight against the pandemic of the new coronavirus this year may be close to the figure previously expected by the International Monetary Fund (IMF), that is, 7.5%, said European Commissioner for Economics Paolo Gentiloni, speaking at a meeting of the profile committee of the European Parliament. "It is clear that a deep recession is inevitable in Europe...

South Korean inter-Korean relations minister Kim Yong-chol confirmed that there are currently no major changes in the situation in the DPRK. He said at a closed forum that the government "has intelligence that gives reason to say with confidence that nothing unusual is happening," media reported. In recent days, there have been reports that the North Korean leader Kim Jong-un is seriously ill...

By the end of last week, the United States and the European Union approved two new large packages of financial assistance measures. In the United States, another $ 500 billion was allocated to support business and the fight against coronavirus, while EU leaders approved a €540 billion program, but failed to agree on the economic recovery fund. According to experts, the measures taken may not be...

Canadian Prime Minister Justin Trudeau said the country would provide $ 780 million for research and development of a vaccine against coronavirus. Of this amount, $ 471 million will be spent on clinical trials, and another $ 82 million will go for the creation of the vaccine itself. “This plan consists of three parts: research related to (developing) a vaccine and other treatments, conducting...

President of Venezuela, Nicolas Maduro, on television broadcasts announced issuance of loans in the national cryptocurrency Petro to companies engaged in the production of grain. "For sowing grain, we will issue a loan to Agrosur company in the amount of 566 thousand petro. Petro finances the production!" - President said before handing the check for the cryptocurrency to the company’s CEO....

The US state of Missouri filed a lawsuit against Beijing in connection with the COVID-19, and is seeking damages to compensate for the "enormous human losses, human suffering, and economic turmoil" caused by the pandemic, reports The Hill. "COVID-19 has done irreparable damage to countries around the world, causing illness, death, economic turmoil and human suffering," reads a statement published...

China has become the first country to report a sharp drop in business activity due to COVID-19. According to the National Bureau of Statistics of the PRC, the country's GDP in the first quarter of 2020 fell immediately by 6.8% in annual terms. At the same time, the decline in retail sales in China was more significant than that in industrial production. Experts believe that, despite the PRC's...

The Argentinean government is proposing to holders of a public debt a plan for its restructuring, which provides for the absence of payments for three years, said Minister of Economy Martín Guzmán. "Argentina cannot pay today... And it will be unable to pay for a certain number of years. There must be a serious reduction in the debt burden," the minister said at a meeting between President and...

Fall in Chinese exports and imports slowed significantly in March, the PRC Main Customs Administration said. Exports in dollar terms decreased in March by 6.6% year on year. Analysts expected a drop of 14%, Trading Economics notes. Imports decreased by 0.9% with a forecast of a decline of 9.5%. In January-February, the volume of Chinese exports collapsed by 17.2%, imports - by 4%. The...