Sudan devalues currency in effort to access debt relief

The move meets key demand by international financial institutions to help Sudan’s transitional authorities overhaul its battered economy. The Central Bank of Sudan has sharply devalued the currency, announcing a new regime to “unify” official and black-market exchange rates in an effort to overcome a crippling economic crisis and access debt relief. The change on […]

US Democrats push forward on COVID relief with budget vote

The United States Senate has approved a budget resolution that is a key step towards the fast-track passage of President Joe Biden’s $1.9 trillion coronavirus relief plan without support from Republicans. Vice President Kamala Harris was in the chair early on Friday to cast the tie-breaking vote, her first. Democrats in the chamber applauded after […]

COVID relief bill fight to test Biden’s promise of ‘unity’

In the first big test of whether United States Republicans and Democrats can work together under President Joe Biden, a group of 10 Republican senators is set to pitch a $618bn coronavirus relief plan to the new president at the White House on Monday. President Biden has proposed a more ambitious legislative package valued at […]

Biden to discuss US Republicans’ $618bn COVID relief proposal

United States President Joe Biden is set to meet on Monday with a group of 10 Republican senators who have proposed $618bn in coronavirus relief, about a third of the $1.9 trillion he is seeking as congressional Democrats are poised to move ahead without Republican support. The Republicans propose slimmer benefits, including $1,000 in direct […]

Republicans urge Biden to scale down $1.9 trillion COVID relief

Ten Republicans in the United States Senate have offered a counterproposal to President Joe Biden’s $1.9 trillion coronavirus relief bill, saying a scaled-down version of the aid package would garner bipartisan support in Congress. In a letter to Biden on Sunday, the legislators said their version of the bill would include $160bn for COVID-19 vaccines, […]

Biden to open ‘Obamacare’ enrolment period for COVID-19 relief

Biden is expected to sign an executive order that makes it easier for people to enrol in subsidised healthcare plans. United States President Joe Biden plans to open a special period to enrol in healthcare coverage under the former President Barack Obama-era Affordable Care Act (ACA) geared to people needing coverage during the coronavirus pandemic. […]

Could Biden’s student loan freeze argue for bigger debt relief?

Thanks to vagaries of the accounting world, Donald Trump’s administration had a chance in the final weeks of the presidential race to cancel more than $200 billion of student loans with no immediate hit to the Department of Education’s massive portfolio. Yet it didn’t do it. Now, perhaps Joe Biden will. For years, bean counters […]

‘Sigh of relief’: Immigration advocates welcome Biden proposal

President Joe Biden plans to introduce a bill that would open a path to citizenship for 11 million undocumented immigrants living in the United States, garnering cautious optimism from immigration advocates. The new president also promised a 100-day halt to deportations of people already in the country, while the proposed bill would recognise the US […]

EU sighs with relief as Biden readies to enter White House

European Commission President von der Leyen hails ‘new dawn in America’ as European Council President Michel laments Trump presidency. The European Union’s top officials breathed a sigh of relief on Wednesday that Joe Biden will be taking over as president of the United States, but they warned that the world has changed after four years […]

IMF working ‘very intensively’ with Sudan for debt relief

The move comes after Sudan’s designation as a state sponsor of terrorism was dropped after nearly 30 years. The International Monetary Fund (IMF) is working “very intensively” with Sudan to build the conditions for broad debt relief and will assess progress on a staff-monitored programme in March, IMF Managing Director Kristalina Georgieva said. She told […]

Anti-vaccine groups received more than $1 million in small-business relief loans.

The Paycheck Protection Program’s loose rules allowed virtually any small business or company in America to qualify for a government-backed relief loan. Citizens and activist groups have criticized thousands of recipients that they deemed unworthy, including wealthy lawyers, politicians and political lobbyists, publicly traded companies and businesses under government investigation. Now, an advocacy group that […]

CIA breathes sigh of relief with Burns appointment

UK judge rules no discrimination after ‘Allahu Akbar’ written on training bomb LONDON: A Muslim train driver in the UK has lost a religious discrimination claim he made after suing a security firm for using a fake bomb with the words “Allahu Akbar” on it as part of a training exercise. Anis Ali, 36, launched […]

China extends debt relief to DR Congo amid COVID-19 crisis

The Democratic Republic of the Congo, a major producer of cobalt and copper, has attracted billions of dollars in investment from Chinese firms in recent years. China has granted some debt relief to the Democratic Republic of the Congo (DRC) to help it overcome economic fallout from the coronavirus pandemic, the Congolese foreign ministry said […]

US legislators’ homes vandalised after COVID relief boost fails

The homes of Democrat Nancy Pelosi and Republican Mitch McConnell were targeted after relief cheques were not increased. Police in the United States say they are investigating acts of vandalism at the homes of two senior lawmakers that appear to be tied to a failed effort to increase COVID-19 relief payments for Americans hard-hit by […]

Wealthy US hospitals tap into COVID relief funds to cover costs

After collecting billions of dollars in the United States coronavirus aid, many of the nation’s wealthiest nonprofit hospitals are now tapping into disaster relief funds that critics say they don’t need. The money from the Federal Emergency Management Agency (FEMA) is going to some large health systems that have billions of dollars in cash reserves […]

US stocks hit record highs after Trump signs COVID relief bill

US investors cheer the passage of the latest round of coronavirus relief aid, which has restored some of the optimism that drove global stocks to a record this month. U.S. equities rallied to records after President Donald Trump backed away from earlier threats and signed a coronavirus aid package. The S&P 500 Index, Dow Jones […]

Under pressure, Trump finally signs COVID relief bill

BREAKING Clock ticking on relief bill that includes payments to jobless Americans, and funding for federal government operations. US President Donald Trump, on holiday in Florida, has finally signed a $2.3 trillion financial package that is crucial to millions of jobless Americans, as he came under pressure from legislators. The White House confirmed he had […]

What is the fight over the ‘COVID relief bill’ all about?

On December 21, the United States Senate finally passed a pandemic relief bill. The most attention-grabbing part of this legislation is the direct payments of $600 to almost every American. A day later President Donald Trump got on TV and called it a “disgrace”. “It’s called the COVID Relief Bill but it has almost nothing to do […]

Biden slams Trump for refusing to sign COVID relief bill

United States President-elect Joe Biden is urging Donald Trump to sign into law an $892bn COVID-19 funding and relief bill that would provide much-needed support to Americans hit hard by the virus and an economic downturn caused by the pandemic. In a written statement, Biden, who is set to take office on January 20, accused […]

Trump demands Congress amend ‘wasteful’ COVID relief bill

Demands to change the bipartisan bill could further delay the delivery of financial assistance to millions of Americans during the pandemic. US President Donald Trump has rejected a nearly $900bn emergency spending legislation to tackle the COVID-19 pandemic, telling Congress to amend the bill and increase the amount of relief to Americans, among other demands. […]

US Congress passes $892bn in COVID relief measures

BREAKING The bill provides $3.36bn for vaccine alliance GAVI, which provides vaccines to people in low-income countries. After months of partisan conflict, the United States Congress has approved a nearly $900bn emergency spending bill responding to the COVID-19 pandemic. The COVID-19 relief bill provides $284bn for loans to small business to keep workers employed and […]

US Congress poised to pass COVID relief bill

The $900bn stimulus package is aimed at boosting the economy and includes direct payments to Americans. The United States Congress is moving quickly towards passage on Monday of a $900bn emergency spending bill responding to the COVID-19 pandemic after months of partisan conflict. The COVID-19 relief bill provides $284bn for loans to small business to […]

US stimulus saga: What could end up in new COVID-19 relief bill?

It’s America’s current long-running, political soap opera: when will the next round of United States coronavirus relief aid be approved, and what will the bill actually contain? Congressional Democrats – and the administration of US President Donald Trump – have been sparring over the subject for months, while millions of struggling American families and small […]

Mnuchin offers $916bn COVID-19 relief plan to US Congress

United States Treasury Secretary Steven Mnuchin presented a $916bn coronavirus relief proposal to House of Representatives Speaker Nancy Pelosi on Tuesday evening in the White House’s first bid since the election to break a deadlock in the US Congress. Acting on behalf of President Donald Trump, Secretary Mnuchin said his proposal is slightly larger than […]