LatinNews Daily - 24 March 2020

* Paraguay’s president Mario Abdo Benítez has presented an emergency bill to congress to mitigate the impact of the coronavirus (Covid-19) pandemic on the country’s public health system and economy. The bill proposes the establishment of a US$1.6bn credit line, with over US$500m focused for the healthcare sector, designated to doubling intensive care beds, buying medical and sanitary equipment, acquiring more coronavirus tests, and providing bonuses for healthcare workers. The bill also proposes financial assistance for small and medium-sized businesses (SMEs); three-month extensions on payment of tariffs for basic services such as water, electricity, and telecommunications for the most vulnerable sectors, which will be refinanced without interest; channeling US$300m towards assisting Paraguay’s 1.5m informal workers, who would be paid 50% of the current national minimum wage until they can resume their work; and reinforcing Paraguay’s benefits system to provide for the unemployed. This emergency credit would be financed through loans from international organisations, and the issuance of government bonds.

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