Regulatory/market watch

摘要

Facing a widening fiscal deficit exacerbated by the coronavirus (Covid-19) pandemic, the government in September 2020 began negotiations with the IMF on a US$1.75bn loan and proposed a number of austerity measures. However, these were indefinitely postponed in October 2020 amid social unrest and the absence of a cross-party consensus on the deal. A multisectoral dialogue is scheduled for November 2020 to discuss other avenues to resolve the budget crisis. In March 2020 the government swiftly introduced measures to contain the pandemic. It imposed restrictions on commercial activities, banned large gatherings, closed borders and created an effective test, track and trace system. A sharp rise in new infections since July 2020 has prompted the government to implement a plan to alternate economic openings and closings to maintain some degree of economic activity until year-end.