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Moon's Democrats win South Korea general election in landslide
SEOUL – South Korean President Moon Jae-in's ruling Democratic Party won Wednesday's general election, claiming the biggest majority in the National Assembly by any party since the country's transition to democracy in 1987.
The left-leaning DP and its satellite partner, the Together Citizens' Party, won 180 seats in the 300-member National Assembly. The main opposition, the conservative United Future Party, and its satellite Future Korea Party took 103 seats.
The landslide victory for Moon's party is a vindication of his government's response to the coronavirus outbreak. It also paves the way for him to push on with his agenda, which includes "inclusive" income redistribution policies, reform of the prosecution system, and the Korean Peninsula peace process.
Despite the coronavirus outbreak, voters lined up from early morning to cast their ballots on election day. The turnout was 66.2% – the highest in a general election since 1992 – with a record 26% of eligible citizens taking part in early voting last week.
Analysts say the government's handling of the coronavirus was a vote winner. South Korea reported 27 new cases on Wednesday, keeping the number under 40 for seven consecutive days. The total number of cases has reached 10,591 with 225 deaths, but the fatality rate of around 2% is one of the lowest in the world.
The country's public health authorities have tested more than half a million people, and locked down cluster infections. The government has encouraged all citizens to remain indoors and has mandated social distancing measures, such as the closing of parks, bars, sporting venues and other public places. Yet it has not resorted to an all-out shutdown of the country.
A Realmeter opinion poll released on Monday showed 54.5% of respondents approving of Moon's performance, up from 48.7% in early March. The Democrats performed well in some key races.
Former Prime Minister Lee Nak-yon beat UFP leader Hwang Kyo-ahn in a Seoul constituency, raising his odds of running for the presidency in 2022 when Moon's single five-year term expires. Hwang resigned as party chief to take responsibility for the defeat.
Moon's former spokesperson Ko Min-jung defeated ex-Seoul Mayor Oh Se-hoon of the UFP.
In one piece of good news for the UFP, Thae Yong-ho became the first North Korean defector to win a seat in the parliament through an election.
The DP thrived in many regions, including Seoul, Gyeonggi Province and Gwangju, while the UFP won seats in Busan, Daegu, and North and South Gyeongsang provinces.
The two main parties launched their own satellite parties in an attempt to win more seats in the proportional vote. The left-wing Justice Party came third with six seats.
https://asia.nikkei.com/Spotlight/South-Korea-election/Moon-s-Democrats-win-South-Korea-general-election-in-landslide
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>>8808152 IMF & World Bank Corona Debt Cancellation Programme
Artificail and homosexual. There is nothing on the statement that cancels debt.
They are talking about it but no empirical evidence on the site that says the debt in cancelled.
Here is what is on the IMF site
Press Release No. 20/161
Joint Statement by World Bank Group President David Malpass and IMF Managing Director Kristalina Georgieva on Outcome of G20 Finance Ministers’ Meeting
We strongly welcome the decision of the G20 to respond to our call to allow the poorest countries of the world that request forbearance to suspend repayment of official bilateral credit on May 1st. This is a powerful, fast-acting initiative that will do much to safeguard the lives and livelihoods of millions of the most vulnerable people. The World Bank Group and IMF will move quickly to respond to the G20’s request for us to support this action by working closely with these countries in ways that make the best use of this vital lifeline. We championed this debt initiative, and we're committed to taking all possible steps to support the poor.”
https://www.imf.org/en/News/Articles/2020/04/15/pr20161-joint-statement-david-malpass-world-bank-kristalina-georgieva-imf-g20-meeting
imo they won't cancel it just restructure so they keep it flowing.
this is also going on too.
Argentina a 'black box' as $70 billion debt talks enter final act
Argentina’s $70 billion debt negotiations are entering the final act, with bondholders bracing for the worst as the South American country readies a restructuring deal already delayed by the coronavirus outbreak, which creditors fear will impose steep losses. The grains producer, which has been grappling with recession and a mounting debt crisis, is set to unveil its proposal to international creditors as early as Thursday to push back payments on its bonds issued under foreign law.
Argentina’s leaders have warned creditors the country will need substantial relief and that any offer will have to be achievable, even as the global pandemic raises the prospect of a deep recession for the country this year. The offer is a key step in a financial drama that began last year amid an economic meltdown tipped off by a change in leadership, from conservative former President Mauricio Macri to current center-left Peronist Alberto Fernandez.
On Tuesday, Argentina filed a $50.5 billion debt registration with the U.S. Securities and Exchange Commission, laying the path for new issuance of foreign-law bonds in what is likely to be a debt swap offer.
With talks delayed by the coronavirus - which prompted Argentina to impose a nationwide lockdown and close its borders - bondholders have griped about a lack of engagement and transparency from the government. Argentina, which also has major debts with the International Monetary Fund, has maintained it wants to find a more amicable path with creditors, though that has proved far from simple.
Many of the bonds currently being renegotiated have collective action clauses that require buy-in from holders of up to 75% of the debt in some cases.
etc…
https://www.reuters.com/article/us-argentina-debt-idUSKCN21X34C