BCEAO releases $ 6 billion for West African economies

The BCEAO has just made a liquidity injection of 3350 billion FCFA ($ 6 billion) at a fixed rate of 2% in favor of several banks of the UMOA. A total of 87 financial institutions participated in the operation. The Central Bank of West African States (BCEAO) made a further injection of liquidity to its member countries last week. In total, 3350 billion FCFA ($ 6 billion) were disbursed by the institution.

During the auction on September 14, 87 banks in the sub-region obtained an injection of liquidity at a fixed rate of 2%. With more than 1000 billion FCFA ($ 1.8 billion), it is the Ivory Coast which obtained the most important financing, ie 31% of the funds injected.

It is followed by Senegal with more than 580 billion FCFA ($ 1 billion), Mali with 466 billion FCFA (835 million $), Benin with 434.5 billion FCFA (777 million $) and Burkina Faso with 318 billion FCFA. ($ 569 million). Niger with 241.6 billion FCFA ($ 432 million), Togo with 219 billion FCFA (…

Canadian emergency benefits: who will be eligible?

The federal government announced a new Canadian Emergency Benefit (CPU) on Wednesday that will replace the emergency care and emergency support benefits announced later.

Canadian emergency benefits: who will be eligible?

What is that?
A taxable benefit of $ 2,000 that would be paid every four weeks. It would be available from March 15, 2020 to October 3, 2020. And yes, the money is retroactive.

Who is entitled to it?
All workers who are losing their income due to the COVID-19 pandemic, whether they are employees, contract workers or the self-employed, whether or not they are eligible for employment insurance. Eligible are those who are over 15 years old and had an income of more than $ 5,000 the previous year. PKU is available to Canadians who have lost their jobs, become ill, are quarantined, or are caring for someone with COVID-19. It is also available to parents who are out of work because they have to stop working to care for sick children or stay at home due to the closure of schools and daycare centers.

Does my employer have to fire me to receive the ECP?
No. Workers who are still employed, but are no longer receiving income due to work disruptions caused by COVID-19, are eligible for PKU. The federal government has indicated that it wants to keep the hiring link between employees and companies.

Should I Apply for Employment Insurance Benefits and ECPs?
Ideally, no. Canadians who are already receiving EI benefits will continue to receive them. If your EI application has not yet been processed, it will be automatically transferred to the PCU. If your EI benefits end before October 3, 2020 and you are unable to return to work due to COVID-19, you can apply for an ECP once your benefits end .

How do I apply?
An online portal will be in place by April 6 for this new federal assistance supported by the Canada Revenue Agency. The federal government says the money will be sent within 10 days of the request. It is unclear at this point whether the money will be sent by check or direct deposit.