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AP National Business

US has sent $8.28 billion in pandemic funds to local lenders

BY FATIMA HUSSEIN Associated Press WASHINGTON (AP) — On the same day the Federal Reserve gave a sobering report on the U.S. economy’s trajectory, administration officials highlighted how they have kept some of the nation’s smallest businesses afloat through the pandemic. Roughly $8.28 billion has been disbursed to 162 community financial institutions across the country,

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IMF criticizes Lebanese government over slow reforms

By BASSEM MROUE Associated Press BEIRUT (AP) — The International Monetary Fund says the Lebanese government’s slowness to implement desperately-needed reforms was exacerbating the country’s economic meltdown. The IMF statement Wednesday followed a meeting in Beirut between the fund’s representatives and Lebanese officials to discuss an urgent and long-delayed bailout. The Lebanese government has implemented

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South Africa in electricity crisis, nationwide blackouts

By MOGOMOTSI MAGOME Associated Press JOHANNESBURG (AP) — South African President Cyril Ramaphosa has an urgent meeting scheduled with his Cabinet to discuss an electricity crisis which has led to unprecedented levels of nationwide power blackouts. The troubled state-owned power utility Eskom is implementing scheduled, rolling blackouts in an attempt to save electricity while struggling

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