Left Menu
Development News Edition

Lives or the economy? Argentina's Fernandez says growth comes second amid virus spread

Lives or the economy? Argentina's Fernandez says growth comes second amid virus spread

Argentine President Alberto Fernandez said on Thursday that saving lives would take precedence over protecting the economy from the impact of coronavirus, which is likely to push the country deeper into recession this year. The center-left Peronist had earlier joined a call of G20 leaders to discuss the global response to the pandemic which has led to the deaths of over 20,000 people worldwide and is now starting to spread around Latin America.

"Faced with the dilemma of preserving the economy or life, we do not hesitate: we choose life," Fernandez said in a tweet after the video conference where he had called for a global humanitarian emergency fund to help tackle the pandemic. Countries around the world are grappling with the dual health and economic crises that have been sparked by the spread of coronavirus, which emerged in China before hitting Europe and now the United States.

U.S. President Donald Trump has said he wants the country's economy to reopen by Easter Sunday on April 12, despite the rapid spread of coronavirus in some U.S. states and a rising death toll. In Brazil, President Jair Bolsonaro has aligned himself with Trump in prioritizing the economy over the shutdowns favored by public health experts - including his own health minister.

According to a readout of his comments, Fernandez said on the call that the world needed "extraordinary" solutions to deal with the crisis including a fund helping countries "be better equipped with supplies to deal with the current context." He added he welcomed the fact that global bodies like the World Bank and International Monetary Fund (IMF) - a major lender to Argentina - had recognized that the debt burdens facing certain countries were unsustainable.

Argentina is in the midst of tense restructuring negotiations involving almost $70 in foreign debt and a further $44 billion from a credit facility extended by the IMF in 2018. "The time of the greedy has come to an end," Fernandez said. "As Pope Francis teaches, we need to let the scales fall off our eyes and hearts in order to act with a new sensibility."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.



Coronavirus lockdowns to speed up long-pending revamping of supply chains

With millions of production lines impacted, business disruptions to some extent are unavoidable and the lessons learned from this turbulence will leave an everlasting impact on both global and local levels of supply chains....

COVID 19 to catalyze the redefinition of urban planning and sustainability

Until now the urban planning was focused on mitigation to natural disastrous, climate change, pollution, chronic illness and lifestyle diseases. However, the global pandemic of novel coronavirus is going to change the whole narrative of urb...

Ebola to COVID 19: Has Geopolitics prevailed over Professionalism in WHO

World Health Organization WHO is perceived as one of the most professional bodies of the United Nations. However, the role of WHO has come under question in handling outbreak two deadly diseases Ebola Viral Disease EVD and novel Coronaviru...

Trade War, COVID 19 and Beyond: How Pandemic is defining a New World Order

While we are confined in our homes, the world is changing faster than ever. Geopolitics in the time pandemic is defining a new world order. The transformation is happening in almost all the walks of life but the million-dollar question is ...


Latest News

Swiss virus death toll hits 235 as official says worst case scenario `not yet materialised'

The death toll in Switzerland from coronavirus had climbed to 235 while total cases stand at 13,213, the health ministry said on Saturday, though officials said their worst fears have so far not materialized. The fatalities were up from 197...

RBI allows SFBs to provide risk free simple financial services without seeking its nod

The Reserve Bank on Saturday allowed Small Finance Banks SFBs to carry out simple financial activities without seeking prior approval from it. This will be applicable to those SFBs who have completed three years of operations.To harmonize t...

Various global medtech companies working to provide healthcare workers, patients with essential supplies

As India gears up to fight the coronavirus threat, the global medical technology industry is on the front lines, mobilizing at several levels, to help win this fight. Many global medtech companies are adding shifts and production lines in o...

Delhi govt issues over 26,000 e-passes to essential service providers, rejects 46k pleas

The Delhi government has issued over 26,000 e-passes to the essential service providers since the national capital has gone under lockdown, it said in a statement on Saturday. Also, the government has rejected 46,299 applications for e-pa...

Give Feedback