WELLINGTON, New Zealand (AP) — New Zealand’s government plans to borrow and spend vast amounts of money as it tries to keep unemployment below 10% in the wake of the coronavirus pandemic. Finance Minister Grant Robertson on Thursday unveiled a budget unlike any in the nation’s history. Debt would shoot up from just over 20% […]
Tag: COVID-19
Posted inWorld News
As coronavirus rolls on, Republicans hit ‘pause’ on new aid
WASHINGTON (AP) — Businesses are going belly up, tens of millions have been laid off and, by some measures, the U.S. seems headed for another Great Depression. But Republicans surveying the wreckage aren’t ready for another round of coronavirus aid, instead urging a “pause.” It’s a position based on a confluence of factors. Polls show […]
Posted inPacific News
SPTO launches COVID-19 recovery strategy for members
SUVA, 13 MAY 2020 (SPTO) — The Pacific Tourism Organisation (SPTO) has today launched the “SPTOCOVID-19 Recovery Strategy”, which has been developed to guide and support the COVID-19 recovery efforts for SPTO and its members. “In order to encompass SPTO’s diverse membership, this strategy has been informed and supported by various organisations and partners including […]
Posted inPacific News
Coronavirus ‘grim reality’: World economy to shrink by 3.2 per cent, new UN report projects
NEW YORK, 14 MAY 2020 (UN NEWS CENTRE) — Against the backdrop of the raging COVID-19 pandemic, the world economy in 2020 is projected to shrink by 3.2 per cent, racking up some US$8.5 trillion in overall losses – wiping out nearly four years of output gains, according to a mid-year economic analysis by the […]
Posted inPacific News
Over 300 lawmakers worldwide urge IMF, World Bank to cancel poor countries’ debt
WASHINGTON, 14 MAY 2020 (REUTERS) — Over 300 lawmakers from around the world on Wednesday urged the International Monetary Fund and World Bank to cancel the debt of the poorest countries in response to the coronavirus pandemic, and to boost funding to avert a global economic meltdown. The appeal came in a letter delivered to […]
Posted inOpinion
COVID-19 pandemic may give Asia-Pacific’s oceans a chance to recover, highlights new UN report
Bangkok (ESCAP news) – The well-being of oceans in the Asia-Pacific region are edging closer to a tipping point due to the unprecedented pace of marine pollution, overfishing and climate change in recent years. However, a new report released today by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) suggests that the […]