Bloomberg The World Bank Group’s arm for the private sector is working to stave off widespread bankruptcies in developing nations that could be even worse than the coronavirus’s impact in advanced economies, according to its chief. The International Finance Corp. (IFC) has $8 billion to lend in its initial pandemic response for emerging nations, Chief Executive Officer Philippe Le Houerou …

Bloomberg The Mexican peso led global currency losses after President Andres Manuel Lopez Obrador rejected calls for fiscal stimulus to offset the impact of the coronavirus (Covid-19) pandemic. The peso sank as much as 4% amid a global sell-off, its third decline in four days. While economists forecast the economy could contract as much as 7% this year, the president, …

Bloomberg The fight to survive the Covid-19 crisis is pitting airlines across the globe against their grounded customers. Regulations in the US and Europe generally call for carriers to offer passengers a refund if a flight is cancelled, with exceptions for circumstances like bad weather. It happens in normal times, but country lockdowns have dissolved schedules for weeks, with airlines …