Argentine Debt, Mishandling the Pandemic, European Aid: Eco Day

Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • A group of top bondholders would reject an attempt by the Argentine government to move forward with a debt restructuring deal that it has been negotiating with another set of creditors, according to people familiar with the talks
  • Former Treasury Secretary Larry Summers says the U.S. government’s mishandling of the coronavirus epidemic has dealt a heavy blow to the country’s self-confidence and global standing
  • Europe’s emergency aid programs are becoming long-term policies as government’s move to stop their economies from falling off a cliff
  • The European Central Bank’s crisis fighting tool is becoming a focus for disagreement as policy makers diverge on how flexible it should be to help some countries more than others
  • Spain shows signs of a strengthening recovery as it records a 49% drop in furloughed workers
  • Income support in the U.K. means consumers are ready to benefit from the reopening of pubs, restaurants and hotels, adding to upside risks to consumption, Bloomberg Economics says
  • U.K. Chancellor Rishi Sunak is under pressure to craft a powerful stimulus package after Boris Johnson promised an infrastructure boost
  • Japanese Prime Minister Shinzo Abe will fall well short of his pledge for women to hold 30% of the nation’s leadership positions this year as the coronavirus pandemic highlights the fragility of women’s employment gains

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