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Bei der von der EU-Kommission ausgerichteten internationalen Online-Geberkonferenz für den Kampf gegen das neuartige Coronavirus will Großbritannien 388 Millionen Pfund (441 Millionen Euro) bereitstellen.

France’s state-owned rail company has suffered losses of €2 billion because of the coronavirus outbreak and may need government aid in order to stave off job cuts. An already-agreed bailout for the aviation industry could end up boosting demand.

Fabian Unteregger ist Comedian und Arzt. Im Interview mit BLICK erklärt er, wie wir die Corona-Krise für uns nutzen können.

Die wegen der Corona-Pandemie geplanten Quarantäne-Regeln in Frankreich fallen weniger strikt aus als zunächst angekündigt.

A special pipe-laying vessel that could be used by Russia to complete construction of the Nord Stream 2 gas pipeline to Germany has arrived in the Baltic Sea, a Reuters witness said on Sunday (3 May).

In the COVID-19 aftermath, making our buildings energy efficient is key to reconcile Europe’s climate objectives with rapid economic recovery. To get this done we need an ambitious policy roadmap at EU level, write Bertrand Deprez and Mohammed Chahim.

Panzer fahren zur Gefechtsübung, Gebirgsjäger sind bei „Berglöwe 2020“ dabei. Diese und 99 weitere Übungen hält die Bundeswehr trotz Corona-Risiken für nötig.

À 31 ans, je me pensais à l’abri du virus. Pourtant, j’ai frôlé les soins intensifs. Récit.

Over 4 million Italians are going back to work on Monday (4 May) amid continued uncertainty over which activities are allowed and which ones are forbidden in the so-called 'phase two' of Italy's fight against the pandemic.

In the midst of its EU Council presidency, Croatia turned to the UAE and China for medical help, forgetting its current leadership role as the presiding country that should spur member states into coordinated action, writes Oriana Ivković Novokmet.

Topky.sk: A schwechati repülőtér május 4-től COVID-19 teszt elvégézést is kínálja az Ausztriába érkező utasoknak közvetlenül a létesítmény területén, hogy elkerülhessék a 14 napos karantént. A teszt 190 euróba kerül, s az eredménye a mintavételt követő 2-3 óra alatt elkészül.

Russia on Sunday (3 May)recorded its highest daily rise in confirmed coronavirus cases with 10,633 new cases, bringing the total to 134,687, with more than half of cases and deaths in Moscow.

An undersea restaurant in the Maldives, a Small Island Developing State (SIDS)

By Pamela Coke-Hamilton
GENEVA, May 4 2020 (IPS)

The COVID-19 pandemic and the measures put in place to contain its diffusion are taking a heavy toll on the tourism sector. According to the United Nations World Tourism Organization (UNWTO), the COVID-19 pandemic will result in a contraction of the tourism sector by 20% to 30% in 2020.

This estimate is likely to be conservative for countries relying on foreign tourists, as the recent data on daily air traffic indicate a drop of almost 80% since January 2020.

While many economic sectors are expected to recover once restrictive measures are lifted, the pandemic will probably have a longer lasting effect on international tourism. This is largely due to reduced consumer confidence and the likelihood of longer restrictions on the international movement of people.

According to the World Travel and Tourism Council (WTTC), in previous viral epidemics the average recovery time for visitors to a destination was about 19 months.

Highly vulnerable countries

The sudden, deep and likely prolonged downturn in the travel and tourism sector has made countries that rely heavily on foreign tourism very concerned about their finances.

Among these, small island developing states (SIDS) are most vulnerable not only because they are highly dependent on tourism, but also because any shock of such magnitude is difficult to manage for small economies.

Related link: Coronavirus (COVID-19) : News, Analysis and Resources. Credit: UNCTAD

On average, the tourism sector accounts for almost 30% of the gross domestic product (GDP) of the SIDS, according to WTTC data. This share is over 50% for the Maldives, Seychelles, St. Kitts and Nevis and Grenada.

Overall, travel and tourism in the SIDS generates approximately $30 billion per year. A decline in tourism receipts by 25% will result in a $7.4 billion or 7.3% fall in GDP. The drop could be significantly greater in some of the SIDS, reaching 16% in the Maldives and Seychelles.

It is expected that for many SIDS, the COVID-19 pandemic will directly result in record amounts of revenue losses without the alternative sources of foreign exchange revenues necessary to service external debt and pay for imports.

Devastating economic consequences

In general, countries may be able to weather economic storms by relying on additional debt or using available foreign reserves.

However, access to global capital markets is increasingly tight, more so for small countries such as SIDS, which are often highly indebted and not well diversified.

The external debt of the SIDS as a group accounts for 72.4% of their GDP on average, reaching up to 200% in the Seychelles and the Bahamas.

Foreign reserves are also generally low, with many of the SIDS possessing only the reserves sufficient for a few months of imports. Given these statistics, it is evident that without international assistance, the economic consequences of the pandemic will be devastating for many of the SIDS.

Immediate financial needs

By considering the economic impact of reduced tourism revenues (assuming a 25% decline in tourism receipts and restoring the minimum level of import coverage (three months), it is possible to provide a rough estimate of each country’s immediate financial needs to offset the damage of the pandemic.

Currently, the SIDS would need about $5.5 billion to counteract the adverse effects of the pandemic on their economies.

The Maldives stands out with a need of $1.2 billion due to its reliance on tourism revenues, followed by the Bahamas and Jamaica.

Many of the SIDS, like Jamaica and the Bahamas, also face high external debt burdens which require complementary external debt suspension or relief programmes.

Table 1: Tourism, Debt and Foreign Currency Reserve Indicators

International response

While governments all over the world have announced fiscal measures totalling $8 trillion to combat the pandemic, the international community has also mobilized funds through international financial institutions to counteract the economic crisis in the most vulnerable countries.

The International Monetary Fund (IMF) created a $50 billion fund through its rapid-disbursing emergency financing facilities for low-income and emerging market countries. It has earmarked $10 billion to serve its poorest members with a zero-interest rate. Regional banks have also created response facilities aimed at financially supporting their members.

What options are available for SIDS?

The IMF has just revamped the Catastrophe Containment and Relief Trust (CCRT) to offer short term debt reliefs to some of its members.

While some SIDS such as Comoros, São Tomé and Príncipe, and the Solomon Islands have already requested and obtained debt relief, there is room for more SIDS to take advantage of this option. While many of the SIDS are not among the poorest countries, they are vulnerable. This is further compounded by high levels of external debt many SIDS experience.

It is critical that SIDS have access to funding at zero interest rates and can suspend existing debt payments until they are financially ready to service their external debt obligations.

Ultimately, this can help blunt the impact of external shocks such as COVID-19 and equip them with the necessary financial resources to plan their next steps for their economic development.

The post Impact of COVID-19 on Tourism in Small Island Developing States appeared first on Inter Press Service.

Excerpt:

Pamela Coke-Hamilton, Director, Division on International Trade and Commodities, UN Conference on Trade & Development (UNCTAD)

The post Impact of COVID-19 on Tourism in Small Island Developing States appeared first on Inter Press Service.

Unter Hochdruck arbeiten Firmen an einem Corona-Impfstoff. Ein Wettrennen um Profite und Gesundheit. Industrie und Politik wollen vermeiden, dass es am Ende vor allem Verlierer gibt. Doch nicht alle machen mit.

France said Sunday that it would not quarantine anyone arriving from the EU, the Schengen area or Britain due to the coronavirus, as it prepares to start easing confinement measures after two months of lockdown.

Le Calame - En réponse à une question posée par un de nos confrères sur l’origine de sa fortune colossale, l’ex-Président Mohamed Ould...

Változékony időjárást jósol hétfői előrejelzésében a Szlovák Hidrometeorológiai Intézet (SHMÚ). Az ország északi és keleti részén kezdetben borús idő lesz, északon elvétve záporok – a magasabban fekvő helyeken hózáporok – is előfordulhatnak.

Végleges helyére költözik a Szabolcs-Szatmár-Bereg Megyei Katasztrófavédelmi Igazgatóság Fehérgyarmati Katasztrófavédelmi Kirendeltsége. Az uniós beruházás nyomán májustól már egy felújított és kibővített épület ad otthont a kirendeltségnek, és a mellé költöző tűzoltó-parancsnokságnak.

A beruházás keretében egy korábbi, rendőrségi épület teljes átalakítása történt meg, ahol emeletráépítés révén több mint ezer négyzetméter alapterületűre növekedett a hasznos tér. A fejlesztés eredményeként az eredeti ingatlanhoz egy könnyűszerkezetes, kétszerállásos szertár, valamint egy tömlőszárító épült. A felújított épület földszintjén a katasztrófavédelmi kirendeltség irodái, az emeleten étkező, pihenő, öltöző és további irodák kaptak helyet, míg a könnyűszerkezetes épületben a tűzoltóság működéséhez szükséges helyiségeket (raktárt, műhelyt, bevetésiruha-tárolót) alakítottak ki.

A katasztrófavédelem ingatlanainak elhelyezését és kialakítását megelőző elemzések azt mutatták, hogy az országban egyes területek mentő tűzvédelme új laktanya építésével, illetve a meglévő ingatlan átépítésével erősíthető. A megalakuló fehérgyarmati hivatásos tűzoltóság 73 település 59 ezer lakójának biztonságáról gondoskodik.

A projektet az EU 677 millió 750 ezer 639 forinttal támogatta.

US President Donald Trump said on Sunday (3 May) he now believes as many as 100,000 Americans could die in the coronavirus pandemic, after the death toll passed his earlier estimates, but said he was confident a vaccine would be developed by the year’s end.

Les autorités sénégalaises ont réceptionné un lot de Covid-Organics, en provenance de Madagascar, convoyé par la Guinée-Bissau, depuis Antananarivo, la capitale malgache. L’information de la mise à disposition, par Madagascar, d’un lot de Covid-Organics, ce remède malagasy, aux autorités sénégalaises, a été confirmée samedi 2 mai 2020, par le Professeur Moussa Seydi, chef du service […]

L’article Le Sénégal réceptionne son lot de Covid-Organics de Madagascar est apparu en premier sur Afrik.com.