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ECB asks banks not to pay dividends until at least October 2020

ECB asks banks not to pay dividends or buy back shares during COVID-19 pandemic Recommendation concerns dividends for 2019 and 2020, at least until 1 October 2020 ECB expects banks to keep funding households, small businesses and corporations   The European Central Bank (ECB) today updated...

Coronavirus and the great financial reset

As trillions upon trillions of euro-dollars and bailout money are willed into existence to cushion the coronavirus blow, the risk of another financial meltdown and hyperinflation has never been greater.   Right now, everyone is preoccupied with the health aspect of the crisis and dealing with the...

Working capital loans: Banks agree to cap interest rate at 3.5%

Government covering first 2.5% for first two years   The government has reached an agreement with all commercial banks to limit the interest rate on capital working loans to 3.5%.   The government has already announced a scheme whereby it will be covering the first 2.5% of the interest...

Fitch expects Malta deficit to be 8.2% in 2020, debt up by €2 billion

Fitch believes Malta’s real GDP will contract by 5.9% in 2020, a more austere outlook than a recent IMF prediction   Credit rating agency Fitch has revised Malta’s outlook to stable, from positive, and affirmed its A+ credit rating. Fitch believes Malta’s real GDP will contract by 5.9%...

Fitch revises Malta’s outlook to stable; Moody’s affirms A2 rating

Fitch Ratings has revised Malta's Outlook to Stable from Positive,  while Moody's has affirmed the country's A2 rating.   Fitch said its outlook revision reflects the significant impact of the global coronavirus pandemic on Malta's economy and public finances.   Fitch said it forecasts real GDP to contract 5.9%...

Fitch Revises Malta’s Outlook to Stable; Affirms at ‘A+’

Link to Fitch Ratings' Report(s): Malta - Rating Action Report   Fitch Ratings has revised Malta's Outlook to Stable from Positive and affirmed the Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at 'A+'.   A full list of rating actions is at the end of this rating action commentary.   Under EU...

More Financial Assistance To Help Businesses Address Liquidity Difficulties

During a Press Conference, Minister for Finance and Financial Services Prof. Edward Scicluna and Parliamentary Secretary for Financial Services and Digital Economy Clayton Bartolo announced more financial assistance to ease businesses’ liquidity constraints due to COVID-19 pandemic.   Following the launch of the Tax Deferral Scheme and...

MGA and FIAU combat money laundering with Memorandum of Understanding

The Malta Gaming Authority (MGA) has confirmed that it has signed a Memorandum of Understanding (MoU) with the Financial Intelligence Analysis Unit (FIAU).   The MoU will specifically focus on improving the sharing of information on the areas related to the supervision of Anti-Money Laundering (AML) and...

Russia notifies Luxembourg, Malta about dividend tax increase

Changes will not affect interest gains paid on Eurobond loans, bond loans of Russian companies and loans extended by foreign banks, according to Russia's Finance Ministry.   The Russian Ministry of Finance has notified finance ministries of Luxembourg and Malta about amendments to double taxation avoidance agreements...

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