Claudio Moroni, Minister of Labor in Argentina, said, “The government of his country intends to extend the ban it imposed on companies with regard to layoffs, until the end of February,” according to “Al Germania”.
Moroni said in media statements yesterday, “The government is witnessing a recovery from the decline in economic activity that it was exposed to due to the Corona virus, and despite that, the time has not yet come to stop this exceptional measure.”
According to the Bloomberg News Agency, the minister’s statement is the fourth extension of that measure, which was implemented in March. On September 24, Argentina extended that ban until November 30.
It is noteworthy that the government recently announced that the country’s president, Alberto Fernandez, and a number of ministers have entered health isolation in a preventive measure after having had contact with an official infected with the Coronavirus.
She explained that President Fernandez’s Corona virus detection test was negative, but he will be subject to health isolation in any case, while the Ministers of Foreign Affairs, Interior and Women’s Affairs are still waiting for the results of the tests.
This comes after a meeting with Gustavo Piles, Secretary of Strategic Affairs, who was confirmed to be infected with the Coronavirus last Wednesday.
Argentina had decided to change the method of managing monetary policy to combine two guiding interest rates, with the aim of reducing the cost of eliminating the accumulation of cash liquidity in the local currency peso in the market.
“The central bank has kept the main interest rate in an area between the interest rate on loan repurchase and the interest rate on seven-day bonds in Argentina, where the main interest rate is about 33 percent,” Bloomberg News Agency quoted informed sources on condition of anonymity. “.
This comes while Argentina is currently facing a strong currency crisis, as the dollar is traded on the parallel market for 178 pesos, a 57% increase over the official exchange rate.
In recent weeks, the Argentine central bank raised the interest rate on repurchase “repo” and cut the interest rate on seven-day bonds, saying, “It will make monetary policy more effective in reducing the cost of withdrawing excess liquidity from the market.”
And to Guatemala, a Latin American country, Guatemalan President Alejandro Giamatti held the developed industrialized countries responsible for the disasters caused by climate change, amid fears of a second hurricane in Central America a week after Hurricane ETA, which killed more than 150 people in the country.
According to the “French”, a student said a meeting in Guatemala with his Honduran counterpart Juan Orlando Hernandez, Giamatti, of the developed industrialized countries, to compensate for the damages they caused to the climate, the consequences of which hit the countries most vulnerable to climate change, as is the case in Central America.
Giamatti said, “Central America is one of the regions most sensitive to the consequences of climate change” through “catastrophic floods, extreme droughts and extreme poverty,” but on the other hand the region that received “the least amount of support from these industrialized countries” is responsible – in his view – for these Disasters.
Last week, Guatemala was hit by torrential rains caused by Hurricane ETA, which crossed northern Central America and killed more than two hundred people in the region, and the authorities of Honduras and Guatemala announced Friday evacuations of residents due to the risk of a second hurricane in Central America. And after Hurricane Eta, Tropical Storm Iota intensified Friday over the Caribbean Sea, threatening regions and populations already stricken, and Guatemala launched an appeal Wednesday for international aid.
Presidents Giamatti and Hernandez will request assistance from the Central American Bank for economic integration in Tegucigalpa, while calling for these funds not to burden the public debt burden that Honduras and Guatemala are under.
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