You wish the circumstances were not as grim. I would start by saying i hope you and your families are healthy and coping in these challenging times. I want to express my deepest condolences to the millions of healthy and coping in these people around the world suffering from covid19 and who have lost a loved one to the pandemic. I just concluded a very productive virtual dialogue, low carbon virtual dialogue with our Development Committee. I was joined by managing director of the i. M. F. And it was good to hear the views from shareholders on how the World Bank Group and i. M. F. Can Work Together to support our member countries, especially the poorest and most vulnerable. I was pleased earlier this week that the g20 took up our joint call to provide a suspension in debt service to bilateral creditors during the crisis. Chris and i worked hard on this and supported it and were happy to see it done. Its a powerful, fastacting initiative that can bring real benefits to the poor. In respo
The Virtual Press briefing is an hour. The springto meetings 2020 Virtual Press bankrence with world president david malpass. President malpass will give weef opening remarks and will turn to your questions. Thank you to all the reporters from around the world who have been submitting questions. We may have to group some of to get through as many as we can and we may edit for brevitys sake. You send in questions, please submit only one per outlet. With that, president malpass, over to you. Malpass thank you and good morning to everyone. Im happy to speak to all of you. Wish the circumstances were not as grim. I would start by saying i hope you and your families are healthy and coping in these challenging times. To express my deepest condolences to the millions of around the world suffering from covid19 and who one to the loved pandemic. I just concluded a very virtual dialogue, low ouron virtual dialogue with Development Committee. I was joined by managing the i. M. F. And it was good
This is bloomberg surveillance. I am Francine Lacqua in london. Markets, thet the volatility swings we saw is moving to currencies. European stocks have been fluctuating, they are flat right now. They were higher a couple minutes ago. Oil is higher today after china unveiled plans to boost its reserves. If you look at brent, they were 12 higher, now they are 9 higher. Treasuries slipping along with the dollar. Lets get to the bloomberg first word news. China says it acted in an open and transparent manner when it comes to the coronavirus, after u. S. Intelligence reports said beijing concealed the extent of the outbreak. Two sources say chinese numbers were fake, that includes underreporting total cases and deaths. The pentagon is looking to provide as many as 100,000 military body bags for potential civilian use, as the u. S. Warns deaths could soar in the coming weeks. To a dealon is close with a contractor. It will send it to fema. Now to eu nations, they are setting out competing v
Restrictions and more americans staying home. Well talk with white house economic advisor, larry brdlow, and the head of bank moynihan. First an update on the virus and toll. In the u. S. , 49 states and the district of columbia have reported over 3,000 cases of corona virus. The death toll stands of at least 60. Globally, 142 countries have reported over 156,000 cases with the International Death toll over 5800. There are now travel restrictions on nonamericans coming into the u. S. From 28 european country, including new restrictions on incoming travel from the uk and ireland that will go into effect monday night. We begin with three reports around the world. First with paula reed. Good morning, margaret. This is a critical moment for the Trump Administration marred by mixed messages and missed opportunities to prepare ande tests widely available. After days saying he didnt need one, President Trump revealed he had been tested for corona virus. The white house revealed yesterday that
The 10 year yield at 1. 56 . The dollar index continues to strengthen, and crude oil is above 53. Guy we are seeing Dollar Strength beginning to ease a little bit right now, but you still got the dollar up against the turkish lira. The Turkish Central Bank cutting rates again. Still, the pressure is building on the lira. Eurodollar flat to negative right now. We are still below 1. 08. How low does the single currency go . European stocks not at session highs, but fairly close to them. Oday vonnie we begin with the latest on the coronavirus as china makes moves to stimulate the economy. Possible bailouts for hardhit Industries Even as the death toll continues to rise. Bloomberg also reporting that china plans to take over the indebted conglomerate hna group. For more, lets get to bloombergs Sophie Kamaruddin in hong kong. Continuings and illnesses. What is the latest. Mr. Prystaiko with the report sophie with the report on hna group, bloomberg has learned conglomerate is in talks with t