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NOC supports health sector to face coronavirus

Libya’s National Oil Corporation stressed that thousands of people across Libya will benefit from new medical equipment designed to help tackle the COVID-19 pandemic.

 On the morning of Thursday April 2, 2020, the Sustainable Development Department of the National Oil Corporation (NOC) received the first shipment of medical equipment to confront COVID-19.

The department will start the distribution of this equipment to targeted areas in the near future. 

“NOC is awaiting new shipments that will arrive in the coming days and weeks by air freight. These shipments include aid from our partners such as OMV, Repsol Consortium, Eni and Suncor. NOC continues to communicate with other partners to provide all possible support to fight this epidemic”, said Mr Mokhtar Abdedayem, manager of NOC’s Sustainable Development Department.

1 Million Coronavirus Infections around the globe

More than 1,002,000 people have been diagnosed with the COVID-19 disease worldwide, as the death toll surpassed 51,000 while about 208,000 patients recovered.

Infections have been reported in more than 200 countries and territories since the first cases were identified in China in December 2019.

The coronavirus pandemic death toll in Spain passed 10,000 on Thursday, as the country reported its highest single-day number of deaths since the outbreak began, with the total rising by more than 1,000 to 10,096 among 110,238 infections.

IOM provides health care to displaced Libyans

The International Organization for Migration (IOM) noted that its medical teams have provided health assistance including primary health care to over 200 displaced Libyans and migrants in urban areas and detention centers.

IOM added that it continues to provide health care to “vulnerable populations across Libya while taking necessary health measures to help prevent the potential spread of Coronavirus.”

Oil posts biggest one-day gains after Trump touts Saudi-Russia oil deal

Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.

Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.

Brent futures LCOc1 rose $5.20, or 21.0%, to settle at $29.94 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 rose $5.01, or 24.7%, to settle at $25.32.

Eastern Libya extends curfew

The Libyan Ministry of Interior issued, today, Resolution No. 361 for the year 2020 regarding the continuation of the provisions related to the curfew , until next April 8, for confronting Coronavirus pandemic and preventing its spread in Libya.

Hence, the new curfew starts at 3:00 p.m. and ends at 7 a.m.

The new measures also prevent the use of public transportation between cities, in addition to locking border crossings and sea and air ports, with regard to movement of persons

The resolution stipulated that the above-mentioned decisions should continue to be enforced, except for authorities and persons whose businesses require navigation during curfew times.

Coronavirus threatens to plunge millions in Arab region into poverty

According to a new policy brief issued yesterday by the United Nations Economic and Social Commission for Western Asia (ESCWA ), it has beeen stressed that Coronavirus will be responsible for pushing a further 8.3 million people in the Arab region into poverty.

The pandemic could also bump up the number of undernourished people there by some two million. 

Current estimates show that there are some 101.4 million in the region who already live in poverty, according to official criteria, and around 52 million undernourished.

“The consequences of this crisis will be particularly severe on vulnerable groups”, said ESCWA Executive Secretary, Rola Dashti, pointing especially to “women and young adults, and those working in the informal sector who have no access to social protection and unemployment insurance”. 

Because of a high dependence on food imports within the Arab world, a disruption in global medical supplies to deal with the pandemic, will also have a severe impact on food security there, says ESCWA. 

Meanwhile, in addition to food loss and waste, worth around $60 billion annually across the region, the brief highlighted other likely economic losses, due to knock-on effects of the virus.

According to ESCWA, reducing food loss and waste by 50 per cent would not only increase household income by some $20 billion, but also significantly improve food availability, reduce food imports and improve the balance of trade throughout the region.

Ms. Dashti encouraged Arab Governments to ensure “a swift emergency response to protect their people from falling into poverty and food insecurity owing to the impact of COVID-19”. 

At the same time, Khalid Abu-Ismail, Senior Economist at ESCWA, highlighted four measures that can be taken to mitigate the crisis, beginning with extending credit to small businesses and enterprises.

He also stressed the importance of building on social networks and expanding on cash and other transfers to the poor and vulnerable and encouraged countries to give “more access to the food insecure population” through the existing voucher system.
Mr. Abu-Ismail also highlighted the importance of other initiatives such as Arab Food Security Emergency Funds. 

As one of five UN regional commissions, ESCWA supports inclusive and sustainable economic and social development in Arab States and works on enhancing regional integration. 

Abdullah Al-Thanni calls for setting up a Social Responsibility Fund

During today’s meeting with the Minister of Social Affairs Fathia Ali Hamed, the Prime Minister of east-based Interim Government, Abdullah Al-Thanni, discussed the possibility of setting up a Social Responsibility Fund amid the current crisis.

Al-Thanni stressed that rehabilitation centers and nursing homes must be regularly monitored especially during the current phase.

“The regular consideration of the needs of these segments is the government’s responsibility.” Al-Thanni said.

Gold dips as dollar holds firm

Gold prices dipped on Thursday as the dollar held firm, while investors awaited key U.S. jobless data amid mounting signs of a recession due to the worsening coronavirus outbreak.

Spot gold fell 0.3% to $1,586.24 per ounce by 06:40 GMT, after rising 1.2% on Wednesday. U.S. gold futures rose 0.6% to $1,600.20 per ounce.

Al Sarraj urges the Central Bank of Libya to attend an emergency meeting

In a statement issued today, the Presidency Council of the Government of National Accord called on the administration of the Central Bank of Libya to attend an emergency meeting through circuit television to exercise all its legal powers as well as to set and execute monetary and banking policies.

Al Sarraj added that the administration should assume its responsibility to take necessary and urging measures to unite the CBL.

The government is not only ready to take the necessary steps that would facilitate the meeting, but it is also committed to follow up on the instructions issued in the interest of Libya.

He also said that the CBL Governor Al Siddiq Al Kabir had halted the transfer and clearing systems at the bank and delayed salaries that had been referred to the CBL on a monthly basis by the Ministry of Finance.

Al Sarraj indicated that this behavior has caused huge damage to the income of Libyan citizens, in addition to the interference in state economic and financial policies, saying such a behavior could have serious consequences.

Al Sarraj called upon UNSMIL to provide the necessary technical support for the conduct of this meeting.

Municipalities reject emergency budgets allocated to them

40 western municipalities in Libya welcomed the anti-Coronavirus emergency budgets allocated to them yesterday by the internationally recognized Libyan government to fight the Coronavirus.

The LYD 75 million emergency budget was distributed to a total of 119 municipalities and local administrations according to population density. They ranged from LYD 5.5 million for the city of Benghazi, LYD 2.6 for Misrata, LYD 2.2 for Hay Al Andalous, LYD 2.1 for Busleem to LYD 119.000 to the smallest municipality.

At least two Municipalities, Tripoli Central and Zuwara, announced that they would not be taking up the Serraj governments allocations.

Hence, Tripoli Central Municipality announced yesterday that the amount was too little and had arrived too late, adding that it was launching a fund-raising campaign and would continue to finance services – as it has been all this time – through donations.

Tripoli Central Municipality added that it was not a Health Ministry and could not be expected to take the work of a health ministry with such a minimal amount.

Zuwara Municipality also rejected the emergency budget allocated to it today and announced that it was setting up a donations fund to deal with the epidemic.