Corona Watch
Senegal
Senegal's health ministry said a second person who flew to the West African country from France last week tested positive for coronavirus on Tuesday, taking the total number of cases in Sub-Saharan Africa to three.
The latest patient, an 80-year-old man from the Sarcelles suburb of Paris, arrived in Senegal on Feb. 29 and presented himself at a hospital in the capital Dakar on March 2.
Senegal confirmed its first case on Monday and another case of coronavirus was confirmed in Nigeria last week. – Nampa/Reuters
Algeria
Algeria confirmed three new cases of coronavirus, bringing to eight the total number of people tested positive for the virus, the health ministry said on Tuesday.
The eight cases include seven Algerians from the same family and an Italian man, the ministry said in a statement. – Nampa/Reuters
World Bank
The World Bank on Tuesday announced an initial US$12 billion in immediate funds to assist countries grappling with the health and economic impacts of the coronavirus virus outbreak that has spread quickly from China to some 80 countries.
World Bank president David Malpass called on countries to coordinate their actions on a regional and international level, saying the speed and breadth of the response would be critical to saving lives.
The bank's International Development Association, which helps the world's poorest countries, could also receive additional funds in the second quarter of 2020 if its Pandemic Emergency Financing Facility (PEF) is triggered, which has not occurred yet, Malpass said.
The World Bank said the $12 billion in fast-track grants, loans and low-interest loans would help developing countries provide better access to health services, strengthen disease surveillance and bolster public health interventions, as well as work with the private sector to reduce the impact on economies. – Nampa/Reuters
IMF
The International Monetary Fund and the World Bank, citing growing concerns about the fast-spreading coronavirus, on Tuesday said they will adopt a "virtual format" for their Spring Meetings instead of convening in person in Washington.
The institutions' Spring Meetings, scheduled this year for April 17-19, usually bring some 10 000 government officials, business people, civil society representatives and journalists from across the globe to a tightly packed, two-block area of downtown Washington that houses their headquarters. – Nampa/Reuters
Federal Reserve
The US Federal Reserve cut interest rates on Tuesday in a bid to shield the world's largest economy from the impact of the coronavirus, though Fed Chair Jerome Powell suggested the threat to the economy would not soon abate.
The decision was unanimous among policymakers. It was the first emergency rate cut since 2008 at the height of the financial crisis, underscoring how grave the central bank views the fast-evolving situation.
WHO
The World Health Organisation (WHO) on Tuesday warned of a global shortage and price gouging for protective equipment to fight the fast-spreading coronavirus and asked companies and governments to increase production by 40% as the death toll from the respiratory illness mounted.
About 3.4% of confirmed cases of COVID-19 have died, far above seasonal flu's fatality rate of under 1%, but the virus can be contained, the WHO said. – Nampa/Reuters
Senegal's health ministry said a second person who flew to the West African country from France last week tested positive for coronavirus on Tuesday, taking the total number of cases in Sub-Saharan Africa to three.
The latest patient, an 80-year-old man from the Sarcelles suburb of Paris, arrived in Senegal on Feb. 29 and presented himself at a hospital in the capital Dakar on March 2.
Senegal confirmed its first case on Monday and another case of coronavirus was confirmed in Nigeria last week. – Nampa/Reuters
Algeria
Algeria confirmed three new cases of coronavirus, bringing to eight the total number of people tested positive for the virus, the health ministry said on Tuesday.
The eight cases include seven Algerians from the same family and an Italian man, the ministry said in a statement. – Nampa/Reuters
World Bank
The World Bank on Tuesday announced an initial US$12 billion in immediate funds to assist countries grappling with the health and economic impacts of the coronavirus virus outbreak that has spread quickly from China to some 80 countries.
World Bank president David Malpass called on countries to coordinate their actions on a regional and international level, saying the speed and breadth of the response would be critical to saving lives.
The bank's International Development Association, which helps the world's poorest countries, could also receive additional funds in the second quarter of 2020 if its Pandemic Emergency Financing Facility (PEF) is triggered, which has not occurred yet, Malpass said.
The World Bank said the $12 billion in fast-track grants, loans and low-interest loans would help developing countries provide better access to health services, strengthen disease surveillance and bolster public health interventions, as well as work with the private sector to reduce the impact on economies. – Nampa/Reuters
IMF
The International Monetary Fund and the World Bank, citing growing concerns about the fast-spreading coronavirus, on Tuesday said they will adopt a "virtual format" for their Spring Meetings instead of convening in person in Washington.
The institutions' Spring Meetings, scheduled this year for April 17-19, usually bring some 10 000 government officials, business people, civil society representatives and journalists from across the globe to a tightly packed, two-block area of downtown Washington that houses their headquarters. – Nampa/Reuters
Federal Reserve
The US Federal Reserve cut interest rates on Tuesday in a bid to shield the world's largest economy from the impact of the coronavirus, though Fed Chair Jerome Powell suggested the threat to the economy would not soon abate.
The decision was unanimous among policymakers. It was the first emergency rate cut since 2008 at the height of the financial crisis, underscoring how grave the central bank views the fast-evolving situation.
WHO
The World Health Organisation (WHO) on Tuesday warned of a global shortage and price gouging for protective equipment to fight the fast-spreading coronavirus and asked companies and governments to increase production by 40% as the death toll from the respiratory illness mounted.
About 3.4% of confirmed cases of COVID-19 have died, far above seasonal flu's fatality rate of under 1%, but the virus can be contained, the WHO said. – Nampa/Reuters
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