Tag: repo line

  • June 7, 2020 UPDATE

    June 7, 2020 UPDATE

    COVID-19 IN
    ROMANIA – Over 20.500 COVID-19 infections have been confirmed in Romania, over 14.600
    people have officially recovered and the latest death toll has climbed to
    1.326. According to the Group for Strategic Communication, some 3.304 Romanians
    living abroad have tested positive for the virus and 114 have died. Most of
    these cases are reported in Italy, while most deaths were reported in the UK,
    over 40, considering the total number of infections in the UK is below 100. In
    another move, Health Minister Nelu Tataru said a potential second wave of the
    pandemic will be less deadly than the first. It is the Romanian Health
    Minister’s belief that life will return to quasi-normal parameters by late July
    – early August, should the population continue observing precautionary
    regulations.




    REPATRIATIONS – The Foreign Ministry says some 365
    Romanian citizens have been repatriated from Great Britain, the Netherlands and
    Jordan, via three special flights operated by the national passenger airliner
    TAROM. Most of them are students, navigation crew, medical staff and people who
    couldn’t extend their stay abroad for various reasons. Previously, 346 Romanian
    nationals were returned to Romania from France, Italy and Belgium on June 5.
    The action was part of a wider series of efforts to repatriate Romanians who
    have been affected abroad by COVID-19 measures and flight restrictions.




    COVID-19 IN THE
    WORLD – Some 7 million people all over the world have been infected with SARS
    CoV2 while over 400 thousand people have died to the virus, Reuters reports.
    Some 3.5 million people have recovered. Brazil, one of the countries gravely
    affected by the virus, decided to eliminate all data regarding the evolution of
    COVID-19 in this country from the official website that has been monitoring the
    outbreak. President Jair Bolsonaro explained the figures do not reflect
    reality. Brazil has the second-largest number of infections, some 667 thousand,
    and has reported over 36 thousand deaths.




    TAROM – The national
    airline company TAROM will reintroduce return flights to London starting
    Monday. In a Facebook post, the company writes that only Romanian nationals
    will be able to board in flights to Bucharest, while flights headed to London
    will receive British citizens only. Also starting Monday travellers arriving in
    the UK will undergo a mandatory 14-day quarantine.






    TOURISM – Employers in
    the hospitality industry are calling on the Government to lift all restrictions
    and reopen restaurants and cafes to interior service. In an open letter, employers
    say the absence of this measure would make them incur 30% losses, tantamount to
    some €6 billion. The second phase of easing lockdown restrictions would boost
    partner sector, such as produce providers, soft drinks distributors, meat and
    milk processors, bakeries and other types of providers, which together account
    for 5% of Romania’s GDP.




    REPO LINE – The European Central Bank and
    the National Bank of Romania have agreed to set up a new repo line to address
    possible euro liquidity needs in the presence of market dysfunctions due to the
    COVID-19 shock. Under the new repo line, the National Bank will be able to borrow up to
    €4.5 billion from the ECB in exchange for high-quality euro-denominated
    collateral.




    PENTECOST – Orthodox and Eastern Catholic Christians around the world, including
    Romania, on Sunday celebrated the Pentecost, marking the descent of the Holy
    Spirit upon the Apostles of Jesus Christ, 50 days after Easter, as well as the
    foundation of the early Christian Church. According to the New Testament, the
    12 apostles received the Holy Spirit, which allowed them to speak languages
    never before spoken. Peter’s sermon led to the baptism of three thousand souls.
    Orthodox believers received sanctified walnut leaves, symbolizing the flames of
    the Holy Spirit resting on the heads of the Apostles. Thousands of tourists
    enjoyed the Pentecost miniholiday in mountain or seacoast resorts or in the
    Danube Delta, which according to travel agencies was 80% booked.






    (Translated by V.
    Palcu)