GLOBAL & REGIONAL DAILY (Tuesday 7, April 2020)
GLOBAL & REGIONAL DAILY
April 7, 2020
Risk-on mode prevailed in early trade with global equity markets gaining for the second session in a row, on tentative signs of a slowdown in the spread of the COVID-19 in some countries. Today the Eurogroup convenes via teleconference and is expected to take important decisions concerning the joint economic response to the COVID-19 crisis.
At the Eurogroup today, interest will be focused on the proposed ESM credit line and its characteristics. Meanwhile, according to press, there will be significant delays in the privatisations programme due to the COVID19 pandemic, and as a result expected proceeds will be significantly lower than expected.
Cyprus: In its market communication, ahead of new dual bond issuance, the Public Debt Management Office estimated that the GDP is expected to contract by about -5.0% and -9.7% in 2020.
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