Who will pay for the financial fallout of the coronavirus pandemic governments around the world pledged trillions of dollars to try and keep their economies afloat will a massive bailout to stop another Global Financial crisis this is inside stuart. Hello welcome to the program. Most economists agree the coronavirus pandemic has pushed the world into recession trade and business abruptly stopped when billions of people were told to stay at home governments are pledging huge stimulus packages to try and reduce the damage the European Union has agreed a 590000000000. 00 rescue package to prop up the worst hit economies such as spain and italy that includes Unemployment Benefits loans for Small Businesses and Health Care Services but leaders couldnt agree on how to share the cost of the crisis the french finance minister is calling this the most important economic plan of the e. U. s history this response contains bald and shoes proposals there will there be unsinkable in just a few weeks
A moment. Where retreat from the world. Every generation has its moment. Is ours. Hello im Darren Jordan this is counting the cost on aljazeera you look at the world of business and economics this week the coronavirus pandemic wreaks havoc across Subsaharan Africa nations turn to the i. M. F. And world bank to see them through the crisis the biggest Oil Production cuts in history but album on a case of the persian gulf about to blow their wealth and just how low will oil prices go. A union divided on sharing the Economic Cost of the pandemic why france and italy are lining up against germany and the netherlands debt. Now Subsaharan Africa could be plunged into its 1st recession in 25 years as the Global Health crisis brought about by the corona virus wreaks havoc many nations like nigeria south africa are dependent on commodities for a large chunk of trade and revenues all have been decimated as economies have ground to a halt well the World Bank Estimates growth could tumble to minus
Life. And bodies left in the streets in ecuador as coronavirus cases overwhelm authorities hospitals struggle to cope with a surge in cases and the worst may be yet to come. Im told me a logical welcome to the program e. U. Finance ministers have reached a deal on a 500000000000 euro plan to soften the economic fallout from the coronavirus pandemic the measures are aimed at helping states hit by corporate 19 as well as supporting companies and protecting jobs the breakthrough came after ministers failed to overcome their differences in marathon talks earlier this week southern European Countries one of the union to do more to ease access to Financial Markets by creating socalled corona bonds but that idea was vetoed by wealthier countries such as germany the netherlands and finland. And earlier i spoke to d. W. Brussels correspondent guild matters and he gave us more details on the deal. Right this rescue plan basically consists of 3 safety nets 1st of all there is the money that comes
Origins hospital struggle to cope with a surge in cases of the worst maybe yet to come. Im told me a lot of well welcome to the program e. U. Finance ministers have reached a deal on a 500000000000 euro plan to soften the economic fallout from the coronavirus pandemic the measures are aimed at helping states hit by corporate 19 as well as supporting companies and protecting jobs the breakthrough came after ministers failed to overcome their differences in manners from top martin talks only of this week southern European Countries one of the union to do more to ease access to Financial Markets by creating socalled corona bonds but that idea was vetoed by wealthier countries such as germany the netherlands and finland. Earlier i spoke to brussels correspondent diogu motus and he gave us more details on the deal. Right this rescue plan basically consists of 3 safety nets 1st of all there is the money that comes from the European Bailout Fund the socalled european stability mechanism some
To cope with the surge in cases and the worst may be yet to come. Im told me a lot of welcome to the program you finance ministers have reached a deal on a 500000000000 euro plan to soften the economic fallout from the coronavirus pandemic the measures are aimed at helping states hit by 19 was one of supporting companies and protecting jobs the breakthrough came after ministers failed to overcome their differences in marathon talks and there this week southern European Countries wanted the union to do more to ease access to Financial Markets by creating socalled corona bonds but that idea was vetoed by wealthier countries such as germany the netherlands and finland. Earlier i spoke to brussels correspondent diogu motus and he gave us more details on the deal. Right this rescue plan basically consists of 3 safety nets 1st of all there is the money that comes from the European Bailout Fund the socalled european stability mechanism some 240 of 1000000000 euros secondly there is the Europe