State of emergency stated through Dec 31, 2020. R$ 500 billion (7% of GDP) consisting of unemployment benefits and direct payments to people. Direct vouchers for those in the informal labor market. 50 bps rate cut. R$ 637 bn for bank loaning. Foreign exchange intervention for liquidity and volatility. Closed borders to non-residents—shared decision to close US-Canada border to non-essential travel.
Schools, museums, and cinemas closed with additional containment measures at the province level. Costs of 3% of GDP, including financing for companies and households, alleviated eligibility for sick pay and deferred taxes. As much as 75% wage aid for certifying organizations for up to 3 months to prevent layoffs. Policy rate cut to near 0.
Purchase of Canadian federal government securities in the secondary market at a rate of a minimum of C$ 5 billion each week. Lockdown of nearly 60 million people throughout Hubei. The suspended entry of immigrants. Constraints on movement between Chinese provinces. Fiscal policy to spur financial investment of as much as 6% of GDP. Funded through CGB (2-3 tn) and city government bonds (4 tn).
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Creation of 109 bn ‘Epidemic Avoidance Fund’. Several reserve bank rate cuts. 800 bn refinancing offered to banks to provide to big corporations. 350 bn special credit quotas to private and small companies. Closure of all non-essential shops and dining establishments. Full lockdown, except for requirements. 45 bn (1. 9% of GDP) funding package, consisting of 8.
300 bn of warranties for bank loans to services like sectional title rates and taxes. ECB offering 1. 2 tn of extra liquidity. 750 bn (6. 5% of GDP) ‘Pandemic Emergency Situation Purchase Program’ bond purchase program. 120 bn asset purchases ‘envelope’ to be released flexibly. Borders closed with Austria, Denmark, France, Luxembourg, and Switzerland. Banned public gatherings of 3 or more people.
Nationwide closure of non-essential retail activities. 750 bn, consisting of 156 bn additional budget and 600 bn via Economic Stabilization Fund (ESF) – includes 100 bn credit for additional loan guarantees. 156 bn extra budget plan. ESF: 400 bn loan guarantees, 100 bn credit to the development bank, 100 bn for direct equity investments in German companies.
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2 tn of extra liquidity. 750 bn (6. 5% of GDP) ‘Pandemic Emergency Situation Purchase Program’ bond purchase program. 120 bn possession purchases ‘envelope’ to be deployed flexibly. Travel bans and obligatory quarantines for inbound guests. All domestic flights stopped. Country-wide lockdown. US$ 22. 6 bn stimulus package with food aid and direct cash transfers to low-income homes.
US$ 4 bn in foreign exchange swaps revealed. US$ 13. 5 bn in long-lasting repo operations at benchmark policy repo rate. Policy rate cuts. US$ 50 bn liquidity injection. Nationwide lockdown. 25 bn (1. 5% of GDP) fiscal stimulus includes health care system and civil protection department (3. 2 bn), work (10. 3 bn), liquidity for businesses and families (5.
5 bn), tax payments, and incentives (1. 6 bn). ECB providing 1. 2 tn of additional liquidity. 750 bn (6. 5% of GDP) ‘Pandemic Emergency Situation Purchase Program’ bond purchase program. 120 bn property purchases ‘envelope’ to be released flexibly. The prohibited entry of travelers with Chinese passports from Hubei or Zhejiang provinces and foreign tourists who have actually checked out particular Chinese areas, South Korea, Iran, or Italy, within the last 2 weeks.
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Arrangement of liquidity through industrial paper and business bond purchases. Low-priced loaning facility set up for corporates affected by the virus. 500 bn for bond purchases followed by an additional 200 bn bond purchase program. Nationwide lockdown. Nationals recommended against all worldwide travel for an indefinite duration. Assistance to services through emergency loans (300 bn), tax cuts, and grants (20 bn).