Global macroeconomic forecasts have shifted dramatically amidst the rapid spread of the Coronavirus
Disease (COVID-19) and associated responses from governments, corporations and households. The IMF
forecast for global growth in 2020, updated earlier this week, deteriorated from (positive) 3.3% in
January to -3.0% in April. On a quarter-over-quarter basis, the second quarter of 2020 is widely expected
to be the worst on record for most major economy sovereigns, as the impact of widespread business and
school closures, idled workforces, and social distancing ripples across the globe.
DBRS Morningstar confirmed the European Union’s Long-Term Issuer Rating at AAA and Short-Term Issuer Rating at R-1 (high). The trend on both ratings remains Stable.
The Governing Council of the European Central Bank (ECB) has decided to extend the timeline for the review of its monetary policy strategy. In the current situation, the decision-making bodies and staff of the ECB and the national central banks of the Eurosystem are focusing all their efforts on addressing the challenges posed by the coronavirus pandemic. The conclusion of the strategy review will therefore be postponed from the end of 2020 to mid-2021.
A Gartner, Inc. cohort of 200 CFOs on 17 March* revealed that 81% intend to offer benefits to their hourly employees that exceed any contractual obligations during the coronavirus disruption. As many as a third intend to offer full monetary compensation during the period.
In DBRS Morningstar's view there are two crucial elements that will ultimately determine the extent to which the Coronavirus Disease (COVID-19) pandemic affects the credit profile of banks worldwide.
Depuis sa création en 1856, la Banque Internationale à Luxembourg (BIL) a toujours joué un rôle actif dans les principales phases du développement de l'économie luxembourgeoise. Alors que le pays est face à un défi d’une ampleur inégalée, la banque entend plus que jamais jouer ce rôle en s’associant au Gouvernement pour soutenir les entreprises et les professionnels indépendants du Grand-duché.
The rapid spread of the virus is putting a heavy strain on both public health and the economy. The European Investment Bank Group (EIBG) has proposed measures to be taken in cooperation with the European Commission and national partners in support of European companies, health expenditure, and the EU economy as a whole.
With the spread of COVID-19, the Chamber of Commerce of Luxembourg has taken measures to support companies having difficulties to ensure their activities in this period of crisis. Together with the entities House of Entrepreneurship, Mutualité de Cautionnement and the General Directorate for the Middle Classes of the Ministry of the Economy; new measures have been adopted and will be active as of this Monday 16thMarch 2020.
Several rating agencies such as Moody's and Standard and Poor (S&P) have confirmed Luxembourg's AAA rating with a stable outlook.
La récente volatilité a peut-être provoqué la panique chez certains investisseurs qui se sont dirigés vers les sorties, mais une approche à long terme peut aider à mettre en perspective les marchés baissiers, explique Tim Armour, gestionnaire de portefeuille de Capital Group, dans ‘The Long View : Investing through Adversity’.