WASHINGTON -- U.S. President Donald Trump on Friday signed a 2-trillion-dollar stimulus bill, the largest stimulus package in U.S. history, in an attempt to rescue the economy devastated by COVID-19.

Earlier in the day, the House of Representatives passed the package by voice vote, which is the fastest way to vote. The Senate approved the bill on Wednesday night, following rounds of strenuous negotiations between Democrats and Republicans. (US-Stimulus-COVID-19)

- - - -

OTTAWA -- The Bank of Canada made an unscheduled announcement on Friday to cut its interest rate to 0.25 percent from 0.75 percent.

Amid coronavirus fallout, the central bank had cut its rate from 1.75 percent to 1.25 percent on March 4, and then from 1.25 percent to 0.75 percent on March 13. (Canada-Rate Cut-COVID-19)

- - - -

WASHINGTON -- The International Monetary and Financial Committee (IMFC), the policy-setting body of the International Monetary Fund (IMF), on Friday pledged to help emerging market and developing countries, especially low-income countries, to fight the COVID-19 outbreak.

"We are in an unprecedented situation where a global health pandemic has turned into an economic and financial crisis. With a sudden stop in economic activity, global output will contract in 2020," IMFC Chair Lesetja Kganyago and IMF Managing Director Kristalina Georgieva said in a joint statement following a conference call of the IMFC. (IMF-Developing-Countries-COVID-19) Enditem

Related

Go to Forum >>0 Comment(s)