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South African government launches R500bn stimulus packageR2 billion is geared to assist small and medium enterprises and spaza shop owners and other small businesses; |
April 23, 2020Comments Off on South African government launches R500bn stimulus packageRead More |
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Non-food stores, all restaurants, bars and cinemas are closed, as are schools, churches and universities.
April 10, 2020Comments Off on Mixed reaction to extension of South Africa’s lockdownRead More
The China loan will finance urgent and unexpected public health expenditures and will focus on three provinces in China.
April 4, 2020Comments Off on BRICS NDB issues RMB 5 billion Coronavirus bondRead More
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57 founding members, many of them prominent US allies, will sign into creation the China-led Asian Infrastructure Investment Bank on Monday, the first major global financial instrument independent from the Bretton Woods system.
Representatives of the countries will meet in Beijing on Monday to sign an agreement of the bank, the Chinese Foreign Ministry said on Thursday. All the five BRICS countries are also joining the new infrastructure investment bank.
The agreement on the $100 billion AIIB will then have to be ratified by the parliaments of the founding members, Chinese Foreign Ministry spokesman Lu Kang said at a daily press briefing in Beijing.
The AIIB is also the first major multilateral development bank in a generation that provides an avenue for China to strengthen its presence in the world’s fastest-growing region.
The US and Japan have not applied for the membership in the AIIB.