Mon, 13 Jul 2020

WASHINGTON -- The extraordinarily high unemployment rate in the United States is in large part due to the poor management of the COVID-19 pandemic by the federal government, a senior U.S. economist said on Monday.

"It was late to acknowledge the threat posed by the virus, and then ultimately ceded the bulk of the crisis management to state governments, which led to a patchwork response that was slow to get going," Mark Zandi, chief economist of Moody's Analytics, said in an analysis. (U.S.-Employment)

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SEOUL -- South Korea's industrial lending growth hit a record high in the first quarter as companies rushed to secure liquidity amid an economic fallout from the COVID-19 outbreak, central bank data showed Tuesday.

Financial institutions' lending to all industries totaled 1,259.2 trillion won (1.03 trillion U.S. dollars) at the end of March, up 51.4 trillion won (41.9 billion U.S. dollars) from three months ago, according to the Bank of Korea (BOK). (South Korea-Industrial Lending)

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JAKARTA -- The number of foreign travelers visiting Indonesia plunged by 87.44 percent to 160,040 in April year on year as COVID-19 pandemic had led holiday makers to suspend journeys, an agency said.

The agency conceded that the tourism sector has been hit by the pandemic since February, according to head of the National Agency of Statistics Kecuk Suhariyanto on Tuesday. (Indonesia-tourism)

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COLOMBO -- Sri Lanka's trade deficit narrowed to 549 million U.S. dollars in March compared to 592 million U.S. dollars in the same period last year amid shocks to the external sector from the COVID-19 pandemic, the Central Bank of Sri Lanka (CBSL) said on Monday.

"The COVID-19 pandemic and the imposition of a partial lockdown in Sri Lanka in the second half of March 2020 affected external sector performance," the CBSL said in a press release. (Sri Lanka-Trade)

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