Gov May Share Virus Projections Tuesday03/31 06:14
Gov May Share Virus Projections Tuesday03/31 06:14 The public could get its first close look at the Trump administration's own coronavirus impact projections Tuesday at the daily briefing. WASHINGTON (AP) -- Like forecasters tracking a mega-storm, White House officials are relying on statistical models to help predict the impact of the coronavirus outbreak and try to protect as many people as possible. The public could get its first close look at the Trump administration's own projections Tuesday at the daily briefing. High numbers of potential deaths estimated under different models have focused President Donald Trump's attention. He's dropped talk of reopening the country by Easter and instead called on Americans to stay home for another month and avoid social contact. Such models are a standard tool of epidemiology, the branch of medicine that deals with how diseases spread and how to control them. But they're really just fancy estimates, and results vary by what factors the modelers put in. Some models updated on a daily basis may seem disconcerting to average folks searching for certainty. White House coronavirus task force adviser Dr. Deborah Birx and the National Institutes of Health's Dr. Anthony Fauci have been talking about the models at press briefings. Fauci on Sunday cited one estimate of 100,000 deaths. Birx has described how officials are working to refine their own model. On Monday, Trump signaled that the White House will explain its forecast soon. "We will meet again tomorrow for some statistics," he told reporters at the daily briefing. As soon as it's released, the White House model is certain to get a thorough vetting by independent experts. The models can feed in numbers from around the country on deaths and other data points. They use statistical analysis to predict the outbreak's path, ferocity and ultimate impact as measured in people sickened, hospitals overwhelmed and lives lost. Fauci and Birx have talked about using testing data --- once enough is available. Part of the idea is to try to drill down close to the community level, providing a tailored view that can help state and local officials. For example, the age of a local population can make a difference. A senior administration official said other streams of data being analyzed include local hospital capacity, the ability of health departments to trace the contacts of people who test positive, the types of businesses in a community and whether they could ensure worker safety if they reopen and economic modeling under varying scenarios. The official provided details on the condition of anonymity to discuss ongoing planning. Birx said the White House task force has looked at about a dozen models designed by other experts. "And then we went back to the drawing board over the last week or two and worked from the ground up, utilizing actual reporting of cases," she explained. Birx singled out projections by the Institute for Health Metrics and Evaluation at the University of Washington in Seattle, suggesting that model is close to how government experts see the situation. As of Tuesday morning, the IHME forecast predicted about 84,000 U.S. deaths through early August, with the highest number of daily deaths occurring April 15. That would be three days after Easter. The model generated attention because it offered the first state-by-state outlook for the next several months, based on how the outbreak is reacting to the various containment efforts put in place at different times around the country. It shows how the outbreak will unfold at a different pace in various states. For example, the model predicts it will peak about a month earlier in New York than in Texas. The IHME model is what's called a "planning model" that can help local authorities and hospitals plan for such things as how many ICU beds they'll need from week to week. "Nobody has a crystal ball," said Dr. Christopher Murray of the University of Washington, who developed the model. It is updated daily as new data arrives. While it is aimed at professionals, Murray hopes the model also helps the general public understand that the social distancing that's in place "is a long process." Just like a massive evacuation can save lives in a Category 4 hurricane, social distancing and shuttered workplaces can slow the rate at which the virus spreads, in hopes that severe illness and deaths may not hit a particular locality all at once. Overwhelmed hospitals unable to care for patients could make things worse. Fauci says models are useful, but they represent well-informed guesswork. They involve a wide span of possible results, from a best-case scenario to calamitous impacts. Usually the mid-range estimate gets cited. But sometimes, it's worst-case projection. "What I like to do --- as a scientist, a physician, a public health official --- is to not ignore models," said Fauci. But to "look at the data as it's evolving and do everything you possibly can to mitigate that instead of getting overly anxious about the extremes of the model." For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, or death. The vast majority of people recover. The virus has caused a global pandemic that has sickened almost 800,000 people and killed about 38,000, according to figures compiled by Johns Hopkins University. It has crippled economies and forced restrictions on the movement of millions of people in an effort to stop it from spreading further and overwhelming health care systems. (KR)
US Extends Iran Sanction Waivers 03/31 06:15
US Extends Iran Sanction Waivers 03/31 06:15 The Trump administration on Monday renewed several waivers on U.S. sanctions against Iran, allowing Russian, European and Chinese companies to continue to work on Iran's civilian nuclear facilities without drawing American penalties. WASHINGTON (AP) -- The Trump administration on Monday renewed several waivers on U.S. sanctions against Iran, allowing Russian, European and Chinese companies to continue to work on Iran's civilian nuclear facilities without drawing American penalties. Secretary of State Mike Pompeo signed off on the waiver extensions but couched the decision as one that continues restrictions on Iran's atomic work. "Iran's continued expansion of nuclear activities is unacceptable. The regime's nuclear extortion is among the greatest threats to international peace and security," State Department spokeswoman Morgan Ortagus said in a statement. Current and former officials familiar with the matter said Pompeo had opposed extending the waivers, which are among the few remaining components of the 2015 Iran nuclear deal that the administration has not canceled. However, the officials said Treasury Secretary Steven Mnuchin had prevailed in an internal debate on the subject last week by arguing that the coronavirus pandemic made eliminating the waivers unpalatable at a time when the administration is being criticized for refusing to ease sanctions to deal with the outbreak. The officials were not authorized to publicly discuss the decision and spoke on condition of anonymity. Last week, the administration slapped new sanctions on 20 Iranian people and companies for supporting Shia militia in Iraq held responsible for attacks on bases where U.S. forces are located. At the same time, however, it extended another sanctions waiver to allow energy-starved Iraq to keep importing Iranian power. President Donald Trump withdrew from the nuclear deal in 2018 and has steadily reimposed U.S. sanctions on Iran that had been eased or lifted under its terms. The so-called "civilian-nuclear cooperation" waivers allow foreign companies to do work at some of Iran's declared nuclear sites without becoming subject to U.S. sanctions. Deal supporters say the waivers give international experts a valuable window into Iran's atomic program that might otherwise not exist. They also say some of the work, particularly at the Tehran reactor on nuclear isotopes that can be used in medicine, is humanitarian in nature. But Iran hawks in Congress have been pressing Pompeo to eliminate all the waivers, saying they should be revoked because they give Iran access to technology that could be used for weapons. The hawks most strenuously objected to the waiver that allowed work at Iran's once-secret Fordow facility, which is built into a mountain. Pompeo canceled the Fordow waiver in mid-December but the others, which allow work at the Bushehr nuclear power station, the Arak heavy water plant and the Tehran Research Reactor, were last extended in late January for 60 days. On Monday, the waivers were extended for another 60 days. (KR)
UN Adopts Resolutions; Votes by Email 03/31 06:21
UN Adopts Resolutions; Votes by Email 03/31 06:21 UNITED NATIONS (AP) -- The U.N. Security Council unanimously adopted four resolutions on Monday, with its 15 members voting by email for the first time because of the coronavirus pandemic. Members voted to keep troops in Sudan's restive Darfur region until the end of May and maintain the U.N. political mission in Somalia until June 30. They extended the mandate of the U.N. panel of experts monitoring sanctions against North Korea until April 30, 2021, and they stressed the importance of supporting the U.N.'s far-flung peacekeeping operations. The U.N.'s most powerful body has been meeting by video because of COVID-19, which has hit New York City, where the U.N. has its headquarters, exceedingly hard. The last council meeting in the headquarters complex was on March 12, when a resolution was adopted extending the mandate of the U.N. peacekeeping mission in South Sudan and welcoming "encouraging developments" toward peace. A resolution sponsored by the United Kingdom and Germany extends the joint United Nations-African Union peacekeeping force in Darfur known as UNAMID until May 31 when the council said it will decide on "the responsible draw-down and exit" of UNAMID. The council said it also intends to establish "a follow-on presence to UNAMID" at the same time. The Darfur conflict began in 2003 when ethnic Africans rebelled, accusing the Arab-dominated Sudanese government of discrimination. The government in Khartoum was accused of retaliating by arming local nomadic Arab tribes and unleashing them on civilian populations --- a charge it denies. In recent years, as the result of a successful government military campaign, the rebellion has been reduced to a single rebel faction. There has been pressure, including from the Trump administration, to scale down the UNAMID force in response to reduced fighting and security conditions. It was established in 2007 and was one of the U.N.'s most expensive operations, with a ceiling of 15,845 military personnel and 3,403 police in June 2016. In July 2018, the Security Council voted to dramatically cut the force, with a target to end the mission on June 30, 2020, but the mass street protests by a pro-democracy movement which began in late 2018 and led to last year's ouster of Al-Bashir and a military-civilian transitional government caused a delay. As of January, UNAMID had over 4,300 military personnel, more than 2,100 international police, and about 1,500 civilian staff. The resolution adopted Monday will maintain that force for two months. A proposed U.N. Security Council resolution obtained by AP earlier this month would replace UNAMID with a U.N. political and peace-building mission whose primary aim would be to support Sudan's fragile transition to democracy including in drafting a new constitution and preparing for elections. But that proposal could be changed before the council makes a final decision on UNAMID and a follow-on mission at the end of May. China, which holds the rotating council presidency in March, sponsored a resolution adopted unanimously stressing "the crucial role" that U.N. peacekeepers play "in achieving conditions for stability and a lasting peace," and urging countries where they are deployed to ensure their freedom of movement. U.N. peacekeeping currently has over 100,000 field personnel including military, police and civilians from over 120 countries deployed in 13 active missions across three continents. The resolution expresses "grave concern about security threats and targeted attacks" against peacekeepers in many missions, condemns "in the strongest terms" all violence and killings of peacekeeping personnel, and calls for prompt investigation and prosecution of those responsible for attacks against them. (KR)
Judges Slow Abortion Bans 03/31 06:25
Judges Slow Abortion Bans 03/31 06:25 DES MOINES, Iowa (AP) -- Federal judges on Monday temporarily blocked efforts in Texas and Alabama to ban abortions during the coronavirus pandemic, handing Planned Parenthood and other abortion providers a victory as clinics across the U.S. filed lawsuits to stop states from trying to shutter them during the outbreak. A new Ohio order is also unconstitutional if it prevents abortions from being carried out, a separate judge ruled Monday. The ruling instructed clinics to determine on a case-by-case basis if an abortion can be delayed to maximize resources --- such as preserving personal protective equipment --- needed to fight the coronavirus. If the abortion is deemed necessary and can't be delayed, it's declared legally essential. The rulings indicated judges were pushing back on Republican-controlled states including abortion in sweeping orders as the outbreak grows in the U.S. In Texas, the ruling came down after state Attorney General Ken Paxton, a Republican, said abortion was included in a statewide ban on nonessential surgeries. But U.S. District Judge Lee Yeakel said the "Supreme Court has spoken clearly" on a woman's right to abortion. One abortion provider in Texas, Whole Woman's Health, said it had canceled more than 150 appointments in the days after the Texas order went into effect. "There can be no outright ban on such a procedure," Yeakel wrote. Paxton said the state would appeal. The rulings happened Monday as lawsuits were also filed in Iowa and Oklahoma, after governors in those states similarly ordered a stop to non-emergency procedures and specifically included abortion among them. The lawsuits were filed by Planned Parenthood, the American Civil Liberties Union, the Center for Reproductive Rights and local lawyers in each state. Their aim, like abortion providers in Texas, is to stop state officials from prohibiting abortions as part of temporary policy changes related to the coronavirus pandemic. Oklahoma Gov. Kevin Stitt announced Friday that abortions were included in his executive order banning all elective surgeries and minor medical procedures until April 7, unless the procedure was necessary to prevent serious health risks to the mother. Stitt said the order was needed to help preserve the state's limited supply of personal protective equipment, like surgical masks and gloves. A spokesman for Stitt referred questions about the challenge to Attorney General Mike Hunter, who vowed in a statement to defend the ban. "My office will vigorously defend the governor's executive order and the necessity to give precedence to essential medical procedures during this daunting public health crisis," Hunter's statement said. "Make no mistake, this lawsuit will itself drain significant resources, medical and legal, from emergency efforts, and likely, directly and indirectly, bring harm to Oklahomans as a result." Monday night, U.S. District Judge Myron Thompson issued a temporary restraining order against Alabama's order, saying the ruling with be in effect through April 13 while he considers additional arguments. Thompson wrote the state's concerns about conserving medical equipment during the pandemic, does not "outweigh the serious, and, in some cases, permanent, harms imposed by the denial of an individual's right to privacy." Attorneys for the Alabama clinics said facilities had canceled appointments for 17 people scheduled this week. "Patients that have already had their appointments canceled have been devastated; in many instances the calls cancelling the appointments have ended in tears," lawyers for the clinics wrote. Alabama closed many nonessential businesses with a state health order, effective Saturday. Alabama Attorney General Steve Marshall said earlier Monday the state would not offer a "blanket exemption" to abortion clinics. In Ohio, Planned Parenthood and abortion clinics that sued last year to try to thwart a law that bans most abortions after a first detectable fetal heartbeat are asking a court to speed up its decision in that case and to consider a recent coronavirus order by the state health director. In filings Monday, the groups' attorneys argued "the state is again attempting to ban abortions" through Dr. Amy Acton's directive barring all "non-essential" procedures and Attorney General Dave Yost's threats that it will be rigidly enforced. Iowa Gov. Kim Reynolds spokesman Pat Garrett said the governor "is focused on protecting Iowans from an unprecedented public health disaster, and she suspended all elective surgeries and procedures to preserve Iowa's health care resources." Reynolds said Sunday the move was not based on her personal ideology but a broad order to halt nonessential procedures to conserve medical equipment. The Iowa lawsuit said abortion procedures do not require extensive use of medical equipment and do not use N95 respirators, the devices in shortest supply during the COVID-19 pandemic. "Patients' abortions will be delayed, and in some cases, denied altogether," the lawsuit states. "As a result, Iowa patients will be forced to carry pregnancies to term, resulting in a deprivation of their fundamental right to determine when and whether to have a child or to add to their existing families." The lawsuits seek court orders halting action pertaining to abortions and ask judges for immediate hearings. (KR)
FBI Probes Stock Sales, Virus Crash 03/31 06:35
FBI Probes Stock Sales, Virus Crash 03/31 06:35 WASHINGTON (AP) -- The FBI has reached out to Sen. Richard Burr about his sale of stocks before the coronavirus caused markets to plummet, a person familiar with the matter said Monday. The outreach suggests federal law enforcement officials may be looking to determine whether the North Carolina Republican exploited advance information when he dumped as much as $1.7 million in stocks in the days before the coronavirus wreaked havoc on the economy. Burr has denied wrongdoing but has also requested an ethics review of the stock sales. The Justice Department's action, first reported by CNN, was confirmed by a person familiar with the matter who was not authorized to discuss it and spoke on condition of anonymity. The Justice Department declined to comment. In a statement, Alice Fisher, an attorney for Burr, said, "The law is clear that any American --- including a Senator --- may participate in the stock market based on public information, as Senator Burr did. "When this issue arose, Senator Burr immediately asked the Senate Ethics Committee to conduct a complete review, and he will cooperate with that review as well as any other appropriate inquiry. Senator Burr welcomes a thorough review of the facts in this matter, which will establish that his actions were appropriate," the statement said. Burr, whose stock sales were first reported by ProPublica and The Center for Responsive Politics, is one of several senators whose financial dealings have generated scrutiny in recent weeks. Senate records show that Burr and his wife sold between roughly $600,000 and $1.7 million in more than 30 transactions in late January and mid-February, just before the market began to nosedive and government health officials began to sound alarms about the virus. Several of the stocks were in companies that own hotels. Burr has acknowledged selling the stocks because of the coronavirus but said he relied "solely on public news reports," specifically CNBC's daily health and science reporting out of Asia, to make the financial decisions. There is no indication that Burr, whose six-year term ends in 2023 and who does not plan to run for reelection, was acting on inside information. The intelligence panel he leads did not have any briefings on the pandemic the week when most of the stocks were sold, according to a person familiar with the matter who spoke on condition of anonymity to discuss confidential committee activity. (KR)
Spain Logs Record Deaths; NY Needs Help03/31 06:39
Spain Logs Record Deaths; NY Needs Help03/31 06:39 Spain's coronavirus deaths jumped by a record number Tuesday and New York Gov. Andrew Cuomo begged for health care reinforcements, saying up to 1 million more workers were needed. MADRID (AP) -- Spain's coronavirus deaths jumped by a record number Tuesday as the country's medical system strained to care for its tens of thousands of infected patients, and the World Health Organization warned that the pandemic was far from over in Asia. In the United States, where the spread of the coronavirus has been accelerating, New York Gov. Andrew Cuomo begged for health care reinforcements, saying up to 1 million more workers were needed. Spain and Italy are still struggling to avoid the collapse of their health systems, with Spain saying hospitals in at least half of its 17 regions are at or very near their ICU bed limits and more than 10,000 medical workers are among the country's reported 94,417 infections. To cope, dozens of hotels across Spain have been converted into recovery rooms for patients not in serious condition, and authorities are building makeshift field hospitals in sports centers, libraries and exhibition halls. So far they have manged to add 23,000 beds. Overnight, Spain recorded 849 new deaths, the highest daily toll since the pandemic hit the southern European country. It has now claimed the lives of 8,189 people in Spain, forcing Madrid to open a second temporary morgue this week after an ice rink pressed into service last week become overwhelmed. Authorities are shifting ventilating machines to regions with the highest number of ICU patients and moving the patients themselves between regions "has not been ruled out," said Dr. Mara Jos Sierra of Spain's health emergencies center. Deaths climbed rapidly in the United States, which was poised Tuesday to overtake China's reported virus death toll of 3,300. But experts say all numbers reported by governments and states in this pandemic are faulty in different ways, due to the lack of testing, mild virus cases that are missed or the determination of some governments to try to seize and shape their pandemic narrative. "This is going to be a long-term battle and we cannot let down our guard," said Dr Takeshi Kasai, WHO's regional director for the Western Pacific. "We need every country to keep responding according to their local situation." Hard-hit Italy and Spain now account for more than half of the 38,000 COVID-19 deaths reported worldwide and the United States has the most confirmed cases at 164,610, according to a tally by Johns Hopkins University. Italy's death toll rose to nearly 11,600 --- the highest in the world by far --- but its rates of new infections were slowing. To the east, Russia registered 500 new confirmed cases in the biggest spike since the beginning of the outbreak, bringing its total to 2,337. Moscow, the capital, has been on lockdown since Monday and the government is edging toward to declaring a national state of emergency. In New York, the epicenter of the American outbreak, Cuomo and health officials warned that the crisis unfolding there is just a preview of what other U.S. cities and towns will soon face. New York state's death toll climbed by more than 250 people in a day to over 1,200. "We've lost over 1,000 New Yorkers," Cuomo said. "To me, we're beyond staggering already." Even before the governor's appeal, close to 80,000 former nurses, doctors and other professionals were stepping up to volunteer in New York, and a Navy hospital ship arrived with 1,000 beds to relieve pressure on the city's overwhelmed hospitals. In California, officials put out a similar call for medical volunteers as coronavirus hospitalizations doubled over the last four days and the number of patients in intensive care tripled. Experts, however, maintain the pandemic will be defeated only by the social distancing measures that have put billions of people on lockdown and upended the world's economy. Dr. Chiara Lepora in the virus hotspot of Lodi in northern Italy said the pandemic had revealed critical health care issues in developed countries. "Outbreaks cannot be fought in hospitals," she said. "Hospitals can only deal with the consequences." In the southern state of Florida, officials were meeting later Tuesday to decide whether to let the infection-plagued cruise ship Zaandam dock after more than two weeks at sea. In a South American dream trip that turned into a nightmare, dozens on the ship have reported flu-like symptoms and four people have died. The company said eight people have tested positive but 2,300 other passengers and crew are in good health. Florida Gov. Ron DeSantis has said the state's health care resources are stretched too thin to allow the ship to dock. The ship needed special permission just to pass through the Panama Canal. More than 235 million people --- about two of every three Americans --- live in the 33 states where governors have declared statewide orders or recommendations to stay home. "Challenging times are ahead for the next 30 days," President Donald Trump told reporters. "The more we dedicate ourselves today, the more quickly we will emerge on the other side." Worldwide, more than 788,000 people have been infected and 166,000 have recovered, according to Johns Hopkins University. For most people, the coronavirus causes mild or moderate symptoms, such as fever and cough. But for others, especially older adults and people with existing health problems, the virus can cause severe symptoms like pneumonia and even death. China on Tuesday reported just one new death from the coronavirus and 48 new cases, claiming that all new cases came from overseas. In Wuhan, people were ready to jump, cry and "revenge shop" as the Chinese city once at the center of the outbreak reopened. "I'm so excited, I want to cry," said one woman at the Chuhe Hanjie pedestrian mall, where about 75% of the shops had reopened. Shopkeepers were limiting the number of people they were letting in, dispensing hand sanitizer and checking customers for signs of fever. In Serbia, Hungary and other nations, concerns were rising that populist leaders may use the situation as an opportunity to seize more power and silence critics. A human rights expert said while she understands the need to act swiftly to protect people from the pandemic, the new states of emergency must include time limits and parliamentary oversight. "A state of emergency --- wherever it is declared and for whatever reason --- must be proportionate to its aim, and only remain in place for as long as absolutely necessary," said Ingibjrg Slrn Gsladttir of the Organization for Security and Cooperation in Europe. The economic devastation continued, with British Airways suspending all its flights at Gatwick Airport amid a collapse in demand as nations close borders and airlines slash flights. In Japan, the countdown clocks were reset and ticking again for the Tokyo Olympics. The clocks read 479 days to go, with the games now scheduled to kick off on July 23, 2021. (KR)
US Plans for Venezuela Transition 03/31 07:02
US Plans for Venezuela Transition 03/31 07:02 MIAMI (AP) -- The Trump administration is prepared to lift sanctions on Venezuela in support of a new proposal to form a transitional government representing allies of both Nicolas Maduro and opposition leader Juan Guaido, U.S. officials said. The plan, which will be presented Tuesday by Secretary of State Mike Pompeo, echoes a proposal made over the weekend by Guaid that shows how growing concerns about the coronavirus, which threatens to overwhelm the South American country's already collapsed health system and crippled economy, are reviving U.S. attempts to pull the military apart from Maduro. What's being dubbed the "Democratic Framework for Venezuela" would require Maduro and Guaid to step aside and hand power to a five-member council of state to govern the country until presidential and parliamentary elections can be held in late 2020, according to a written summary of the proposal seen by The Associated Press. Four of the members would be appointed by the opposition-controlled National Assembly that Guaid heads. To draw buy-in from the ruling socialist party, a two-third majority would be required. The fifth member, who would serve as interim president until elections are held, would be named by the other council members. Neither Maduro nor Guaid would be on the council. "The hope is that this setup promotes the selection of people who are very broadly respected and known as people who can work with the other side," U.S. Special Representative for Venezuela Elliott Abrams told the AP in a preview of the plan. "Even people in the regime look at this and realize Maduro has to go, but the rest of us are being treated well and fairly." The plan also outlines for the first time U.S. requirements for lifting sanctions against Maduro officials and the oil industry --- the source of nearly all of Venezuela's foreign income. While those accused of grave human rights abuses and drug trafficking are not eligible for sanctions relief, individuals who are blacklisted because of the position they hold inside the Maduro government --- such as members of the supreme court, electoral council and the rubber-stamp constitutional assembly --- would benefit. But for sanctions to vanish, Abrams said the council would need to be functioning and all foreign military forces --- from Cuba or Russia --- would need to leave the country. "What we're hoping is that this really intensifies a discussion inside the army, Chavismo, the ruling socialist party and the regime on how to get out of the terrible crisis they're in," Abrams said. For months, the U.S. has relied on economic and diplomatic pressure to try and break the military's support for Maduro and last week U.S. prosecutors indicted Maduro and key stakeholders --- including his defense minister and head of the supreme court --- on drug trafficking and money laundering charges. Still, any power-sharing arrangement is unlikely to win Maduro's support unless the thorny issue of his future is addressed and he's protected from the U.S. justice system, said David Smilde, a senior fellow at the Washington Office on Latin America. While Venezuelans are protected from extradition by Hugo Chavez's 1999 constitution, the charter could be rewritten in a transition, he said. "It's a little hard to see how this is going to be convincing to the major players in the government," said David Smilde, a senior fellow at the Washington Office on Latin America. "They seem to think the military is going to step in, but that seems extremely unlikely." It also would require the support of Cuba, China or Russia, all of whom are key economic and political backers of Maduro. In a call Monday with Vladimir Putin, President Donald Trump reiterated that the situation in Venezuela is dire and told the Russian leader we all have an interest in seeing a democratic transition to end the ongoing crisis, according to a White House readout of the call. A senior administration official said Monday that the U.S. is willing to negotiate with Maduro the terms of his exit even in the wake of the indictments, which complicate his legal standing. But recalling the history of Gen. Manuel Noriega in Panama, who was removed in a U.S. invasion after being charged himself for drug trafficking, he cautioned that his options for a deal were running out. "History shows that those who do not cooperate with U.S. law enforcement agencies do not fare well, " the official said in a call with journalists on condition of anonymity to discuss U.S. policy. "Maduro probably regrets not taking the offer six months ago. We urge Maduro not to regret not taking it now." Guaid, who has been recognized by the U.S. and nearly 60 other countries as the lawful leader of the country following a widely viewed fraudulent re-election of Maduro, called on Saturday for the creation of a "national emergency government." He said international financial institutions are prepared to support a power-sharing interim government with $1.2 billion in loans to fight the pandemic. Guaido said the loans would be used to directly assist Venezuelan families who are expected to be harmed not only by the spread of the disease but also the economic shock from a collapse in oil prices, virtually the country's only source of hard currency. The spread of the coronavirus threatens to overwhelm Venezuela's already collapsed health system while depriving its crippled economy of oil revenue on which it almost exclusively depends for hard currency. The United Nations said Venezuela could be one of the nations hit hardest by the spread of the coronavirus, designating it a country for priority attention because of a health system marked by widespread shortages of medical supplies and a lack of water and electricity. Last September, Guaid proposed a similar transitional government in talks with Maduro officials sponsored by Norway, which never gained traction. But with the already bankrupt country running out of gasoline and seeing bouts of looting amid the coronavirus pandemic, calls have been growing for both the opposition and Maduro to set aside their bitter differences to head off a nightmare scenario. "The regime is under greater pressure than it has ever before," Abrams said. (KR)
Stocks on Pace for Worst Q Since 2008 03/31 09:11
Stocks on Pace for Worst Q Since 2008 03/31 09:11 Stocks fell in early trading Tuesday, as Wall Street closes in on its worst quarterly performance since the most harrowing days of the 2008 financial crisis. NEW YORK (AP) -- Stocks fell in early trading Tuesday, as Wall Street closes in on its worst quarterly performance since the most harrowing days of the 2008 financial crisis. The S&P 500 dipped by less than 1% in the first few minutes of trading, extending its loss for the first three months of the year to more than 19%. Asian markets rose earlier in the day following a stronger-than-expected report on China's economy, where factories are reopening as the spread of the coronavirus slows there. But momentum stalled in Europe, where the number of deaths jumped in Spain. The surge of coronavirus cases around the world has sent markets tumbling by breathtaking degrees since mid-February, halting what had been a good start to the year. Markets rose early in the quarter with expectations that the economy was accelerating due to a calming trade wars and low interest rates around the world. Benchmark U.S. crude oil has dropped by roughly two thirds this quarter and hit its lowest price since 2002, for example, while Germany's DAX has lost a quarter of its value for its worst quarter in nearly 18 years. The big question is if markets will get worse. At this point, no one knows. The reason for the huge declines in stock markets from Japan to Germany to the U.S. is that economies around the world are grinding to near standstills as businesses close their doors and people hunker down at home in hopes of slowing the spread of the virus. A record number of Americans applied for jobless benefits two weeks ago as layoffs sweep the country, and the economy will likely be in dismal shape until the spread of the virus slows. The hope is that massive aid coming from the Federal Reserve and Capitol Hill can help prop up the economy in the meantime. Goldman Sachs economists on Tuesday said they expect the U.S. economy to shrink 34% in the second quarter, but they expect growth to rebound in the third quarter. The S&P 500 was down 0.7%, as of 9:45 a.m. Eastern time. The Dow Jones Industrial Average dipped 116 points, or 0.5%, to 22,210, and the Nasdaq was down 0.2%. The number of known coronavirus cases keeps rising, and the worldwide tally has topped 780,000, according to Johns Hopkins University. The United States has the highest number in the world, more than 160,000. Most people who contract COVID-19 have mild or moderate symptoms, which can include fever and cough. But for others, especially older adults and people with existing health problems, the virus can cause pneumonia and require hospitalization. More than 37,000 have died worldwide due to COVID-19, while more than 160,000 have recovered. "We're also still not even close to peak coronavirus in the U.S. which has already reported more cases than any other country and will sadly likely see a huge spike in the number of deaths, meaning further lockdown measures will likely follow," said Craig Erlam, senior market analyst at OANDA Europe. "Huge challenges still lie ahead." (CZ)
