Overseas Headlines- April 7, 2020

United States:

IMF Mulls Fed-Like Program to Get Dollars to More Economies

“The International Monetary Fund may launch a new program to help address the global shortage of dollars, providing a backup to the Federal Reserve’s campaign to keep greenbacks flowing around the world economy. IMF Managing Director Kristalina Georgieva is preparing to offer short-term dollar loans to countries that lack enough Treasuries to participate in a Fed program that enables foreign central banks to temporarily exchange U.S. debt for dollars.”




U.K. Virus Crisis Takes Dramatic Turn With Boris Johnson in Intensive Care

“U.K. Prime Minister Boris Johnson is in a stable condition in intensive care and in good spirits as medics try to help him recover from the coronavirus, his office said on Tuesday. Johnson, 55, was moved into a facility for the most seriously ill patients on Monday evening, but has not so far needed the use of a ventilator to breathe, the premier’s spokesman James Slack told reporters.”



Japan Declares Emergency For Tokyo, Osaka as Hospitals Fill Up

“Prime Minister Shinzo Abe warned that hospitals were reaching capacity and Japan was making plans to house the mildly sick in unused Olympic facilities as he declared a state of emergency in Tokyo and its surrounding regions. In what Abe said was the country’s greatest economic crisis since the end of World War Two, he declared a one-month emergency period from April 7 that will cover Osaka, Kanagawa, Saitama, Chiba, Hyogo and Fukuoka prefectures as well as the capital. The move hands powers to local governments to try to contain the spread of the virus that causes Covid-19, including by urging residents to stay at home.”



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