Saudi Arabia is intensifying efforts to shrink the highest budget deficit among the world’s biggest 20 economies, aiming to cancel more than $20 billion of projects and slash ministry budgets by a quarter, people familiar with the matter said. Source Bloomberg
Investors flocked to Italy’s inaugural environment-focused government bond offering on Wednesday, allowing the country to raise more than €8bn. The banks running the issuance chalked up around €80bn in orders for €8.5bn of debt. It was the biggest debut sovereign green bond from a European issuer to date, according to Intesa Sanpaolo, which worked on the deal. Source FT
- A movement supporting reparations as a way to make amends for the atrocities of slavery and to reduce the persistent wealth gap is gaining momentum.
- One hundred and forty-two members of Congress support H.R. 40, the bill to study reparations.
- William Darity, professor of public policy at Duke University, estimates a concrete program could cost the U.S. government between $10 trillion and $12 trillion. Source CNBC
The House passed President Biden’s $1.9 trillion stimulus plan early Saturday in a nearly party-line vote, advancing a sweeping pandemic aid package that would provide billions of dollars for unemployed Americans, struggling families and businesses, schools and the distribution of coronavirus vaccines. Source MSN
