Both private and public
sector initiatives are needed to help the world's poorest
countries grapple with debt challenges exacerbated by the
coronavirus pandemic, the Institute of International Finance
said on Thursday.
The U.S. government's $350
billion effort to help ailing small businesses took several
steps forward on Thursday as regulators confirmed banks would
not have to hold capital against loans made under the program,
and non-bank lenders were admitted to it.
Canada's financial regulator
announced on Thursday it was easing constraints on insurers
related to payment deferrals on loans and premiums and
increasing liquidity for banks, adding to measures in place to
fight the impact of the COVID-19 outbreak.
Small and medium-sized
businesses in Canada that have been affected by the coronavirus
crisis were able to begin enrolling in a program to apply for
interest-free loans of up to C$40,000 on Thursday, according to
the Canadian Bankers' Association.
The U.S. Federal
Reserve and the Bank of England ramped up their emergency
responses to the world's escalating coronavirus recession on
Thursday as they pushed deeper into territory once considered
fraught with risk for central bankers.