Browsed by
Tag: Action

More synchronized action needed to tackle COVID economic crisis, IMF’s Georgieva says

More synchronized action needed to tackle COVID economic crisis, IMF’s Georgieva says

By Andrea Shalal and Marc Jones

WASHINGTON/LONDON (Reuters) – The international community must do more to tackle the economic fallout of the COVID-19 crisis, the head of the International Monetary Fund said on Monday, publicly calling on the World Bank to accelerate its lending to hard-hit African countries.

Some of the key events of the virtual and elongated annual meetings of the IMF and World Bank take place this week, with the most pressing issue how to support struggling countries.

“We are going to continue to push to do even more,” IMF Managing Director Kristalina Georgieva said during an online FT Africa summit.

“I would beg for also more grants for African countries. The World Bank has grant-giving capacity. Perhaps you can do even more… and bilateral donors can do more in that regard,” Georgieva said in an unusual public display of discord between the two major international financial institutions.

No immediate comment was available from the Bank.

Georgieva last week said the IMF had provided $26 billion in fast-track support to African states since the start of the crisis, but a dearth of private lending meant the region faced a financing gap of $345 billion through 2023.

The pandemic, a collapse in commodity prices and a plague of locusts have hit Africa particularly hard, putting 43 million more people at risk of extreme poverty, according to World Bank estimates. African states have reported more than 1 million coronavirus cases and some 23,000 deaths.

G20 governments are expected to extend for six months their Debt Service Suspension Initiative (DSSI) which has so far frozen around $5 billion of poorer countries’ debt payments, but pressure is on the main development banks and private creditors to provide relief too.

HOLDING ONTO GOLD RESERVES

Georgieva said the Fund was also pushing richer member

Read the rest
More synchronized action needed to tackle COVID economic crisis – IMF’s Georgieva

More synchronized action needed to tackle COVID economic crisis – IMF’s Georgieva

WASHINGTON/LONDON (Reuters) – The international community must do more to tackle the economic fallout of the COVID-19 crisis, the head of the International Monetary Fund said on Monday, publicly calling on the World Bank to accelerate its lending to hard-hit African countries.

FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during a conference hosted by the Vatican on economic solidarity, at the Vatican, February 5, 2020. REUTERS/Remo Casilli

Some of the key events of the virtual and elongated annual meetings of the IMF and World Bank take place this week, with the most pressing issue how to support struggling countries.

“We are going to continue to push to do even more,” IMF Managing Director Kristalina Georgieva said during an online FT Africa summit.

“I would beg for also more grants for African countries. The World Bank has grant-giving capacity. Perhaps you can do even more… and bilateral donors can do more in that regard,” Georgieva said in an unusual public display of discord between the two major international financial institutions.

No immediate comment was available from the Bank.

Georgieva last week said the IMF had provided $26 billion in fast-track support to African states since the start of the crisis, but a dearth of private lending meant the region faced a financing gap of $345 billion through 2023.

The pandemic, a collapse in commodity prices and a plague of locusts have hit Africa particularly hard, putting 43 million more people at risk of extreme poverty, according to World Bank estimates. African states have reported more than 1 million coronavirus cases and some 23,000 deaths.

G20 governments are expected to extend for six months their Debt Service Suspension Initiative (DSSI) which has so far frozen around $5 billion of poorer countries’ debt payments, but pressure is

Read the rest
Janus Henderson and PMV Pharmaceuticals See Activist Action

Janus Henderson and PMV Pharmaceuticals See Activist Action

Text size

These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Oct. 1 through Oct. 7, 2020. Source: InsiderScore.com

Activist Holdings


Janus Henderson Group

(JHG)

Trian Fund revealed an initial investment in the investment manager of 18,066,612 shares. That figure includes the purchase of 9,134,262 Janus Henderson shares at prices ranging from $19.10 to $20.57 each from Sept. 22 through Oct. 1. Trian reported that it had discussions with Janus Non-Executive Chairman Richard Gillingwater, and intends to talk to other members of Janus’ board and executive management “regarding various strategic and operational initiatives.”

Trian said that “due to a variety of competitive pressures” within the asset-management industry, those that “possess significant scale and product breadth” as well as have the means for technology innovation will be in the best position to serve clients. To that end, Trian “may encourage [Janus] to explore certain strategic combinations…with one or more companies in the asset-management industry,” in which Trian may be or soon be an investor. Trian also disclosed a new investment in

Invesco

(IVZ) the same day it reported its 9.9% stake in Janus.

Original Filings


PMV Pharmaceuticals

(PMVP)

OrbiMed Advisors reported its first interest in the newly public oncology-based biopharmaceutical firm. OrbiMed bought 950,000 shares through PMV Pharmaceutical’s initial public offering that closed on Sept. 29 and priced shares at $18 each. Combined with the PMV shares that OrbiMed received through the automatic conversion of pre-IPO preferred securities, OrbiMed holds 6,589,330 common shares, equal to 14.7% of PMV’s outstanding stock.


Dyne Therapeutics

(DYN)

Vida Ventures Advisors reported a new investment in the

Read the rest