CEMAC zone: recession could reach 6% according to BEAC

All the indicators are certainly not red. But most of the economic indicators in the six countries of the Economic and Monetary Community of Central Africa (CEMAC) are already found the Monetary Policy Committee (CPM) of the Bank of Central African States (BEAC) at the end of the second annual session on June 24, 2020 in Yaoundé.

Analyzing the situation in Central Africa, it emerges that in the short and medium terms, the CEMAC zone is affected by the health crisis and the fall in the prices of the main export products. "

"In the first half of 2020, the revival of productive activities was slowed down in the sub-region by the disruption of supply circuits for imported products as well as by the restrictive measures adopted by the various governments to contain the effects of the pandemic. Although it is premature for the moment to fully grasp the impact of COVID-19 on national economies, it is already anticipated during this first semester a drop in production as well as a det…

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.