tod
|
|
World Bank sees plunge in Latin America, Caribbean economies
| 
Apr 13 15:05 UTC 2020 |
The new coronavirus pandemic could send economies tumbling by 4.6% this year
across Latin America and the Caribbean, forcing governments to take ownership
stakes in struggling major businesses, according to a World Bank report issued
Sunday.
The banks Latin America and Caribbean branch projected that gross domestic
product for the region will fall by 4.6% before rebounding by 2.6% next year.
Venezuela, which has already seen a dire economic plunge, was not included
in the prediction.
APRIL 12, 2020 AT 11:05 AM
MEXICO CITY (AP) The new coronavirus pandemic could send economies tumbling
by 4.6% this year across Latin America and the Caribbean, forcing governments
to take ownership stakes in struggling major businesses, according to a World
Bank report issued Sunday.
The banks Latin America and Caribbean branch projected that gross domestic
product for the region will fall by 4.6% before rebounding by 2.6% next year.
Venezuela, which has already seen a dire economic plunge, was not included
in the prediction.
Thats even more dramatic than the contraction of 1.8% to 4% projected earlier
this month by the U.N.s Economic Commission for Latin America and the
Caribbean.
The disease has slammed tourism, demand for the regions products and crucial
remittances sent home by migrants in the U.S. and elsewhere.
The bank said governments will need to rapidly ramp up existing social
assistance programs while also supporting financial sector institutions and
key sources of employment.
To support jobs and firms, governments may need to take ownership stakes in
strategically important firms. To avert a financial crisis, they may need to
recapitalize banks and absorb non-performing assets.
Humberto Lpez, the banks acting vice president for the region, said, We need
to help people face these enormous challenges and make sure that financial
markets and employers can weather the storm. That means limiting the damage
and laying the groundwork for recovery as fast as possible.
The bank warned that aid for businesses must be seen as transparent and
professional to maintain confidence and avoid the appearance of corruption.
This may also allow decision makers to take urgently needed measures without
fearing prosecution in the future, it said.
During the Great Recession that began in 2008, the United States took stakes
in companies including General Motors through the Troubled Asset Relief
Program.
What do you think will happen once the Troubled Asset Relief Program 2.0
is rolled out? Will it be soon enough?
|
walkman
|
|
response 1 of 6:
|
Apr 16 15:47 UTC 2020 |
"What do you think will happen once the Troubled Asset Relief
Program 2.0 is rolled out? Will it be soon enough?"
It could NEVER be enough. The collapse is imminent.
Any interference will only exacerbate the depression. The dollar
will be worthless. The debt will be unsustainable. America will be
very vulnerable.
*The only rational thing to do when there's an economic issue is to
let it play out, not try to rescue it.*
That aside, once American governments and businesses decide it's
time to make profits again, Americans will be under surveillance and
controls that are unimaginable. What they are calling "the new
normal" (as they say in speeches again and again) will be an America
no one recognizes or wants.
|
walkman
|
|
response 4 of 6:
|
Dec 13 01:06 UTC 2021 |
Looking at this conversation in late 2021, almost 2 years later is
pretty spooky. Especially this;
"What they are calling "the new normal" (as they say in speeches again
and again) will be an America no one recognizes or wants."
Also the implications of "If it comes down to choices, the average
citizen will choose:" The answer was always going to be C) Neither.
People will turn in their neighbors, roll up their sleeves and see their
country collapse for a "free" stimulus check.
As they say, "Let's Go Brandon".
|