The Abu Dhabi Fund for Development will grant debt relief to low-income countries and companies from the developing world as the UAE backs a G20 plan to support economies grappling with the fallout from the Covid-19 pandemic. The fund said that it will suspend principal and interest repayments for eligible countries and businesses upon “request for forbearance”.

SOURCE: The National

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Governments’ economic responses to the COVID-19 pandemic have included an array of measures to help people and businesses weather the storm. Small and medium-size enterprises (SMEs) are in an especially difficult position. Plunging demand has forced them to lay off workers, and many don’t have the financial resources to survive in this climate. In many countries, up to one-third of SMEs could go bust within three months of when the pandemic began in their countries.1 But their viability will be critical to any postcrisis recovery: SMEs account for two-thirds of global employment and half of global GDP. A failure to protect them could put the entire global economy at risk.

SOURCE: Mc Kinsey

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On April 7, 2020, the Thai government issued its third stimulus package worth 1.9 trillion baht (US$58 billion) to mitigate the economic impact caused by the COVID-19 outbreak.

This latest package, named Phase 3, is equivalent to 10 percent of GDP. 1 trillion baht (US$30 billion) was provided through bond issuance and 900 billion baht (US$27.8 billion) from the central bank, Bank of Thailand (BOT).

Source: ASEAN Briefing