The pound slid on Wednesday, after a report that the UK government could pull out of Brexit talks as soon as next week if not enough progress has been made towards a deal.
Sterling had lost 0.8% against the dollar (GBPUSD=X) by mid-afternoon in the UK, trading just below $1.29. It shed 0.7% against the euro (GBPEUR=X), with the pound selling for $1.09.
The flight from sterling reflects investors fears’ Britain could face severe economic upheaval if no deal is reached. It would likely spark disruption and sudden new barriers to long-standing trade and other ties with most of Europe when the Brexit transition period expires at the end of the year.
Talks between negotiators are ongoing in London this week. The pound’s decline came after a source told Bloomberg the UK
LA PAZ (Reuters) – Internal splits in Bolivia’s interim government led to the departure of the country’s economy minister and two other cabinet ministers Monday, stoking uncertainty about the Andean country’s economic recovery from the coronavirus pandemic.
Óscar Ortiz stepped down from the economy portfolio, citing “deep differences” and pressure from people close to interim President Jeanine Añez, a conservative former Senator who took over in a power vacuum after fraught elections last year.
Bolivia is heading toward a re-run of that vote on Oct. 18, which will set the political direction of the gas and lithium-rich country for the years ahead. Anez recently withdrew as a candidate after falling far behind in the polls.
The landlocked nation tumbled into political crisis last year after allegations of electoral fraud sparked widespread protests and led to the resignation of long-term leader Evo Morales. The pandemic has hammered the economy.
By Daniel Ramos
LA PAZ (Reuters) – Internal splits in Bolivia’s interim government led to the departure of four cabinet members, including the minister of economy, on Monday, stoking uncertainty about the Andean country’s economic recovery from the coronavirus pandemic.
Óscar Ortiz stepped down from the economy portfolio, citing “deep differences” and pressure from people close to interim President Jeanine Añez, who recently withdrew as a candidate from Oct. 18 general elections after falling behind in the polls.
The election next month, a re-run of a fraught vote last year that plunged the poor, landlocked nation into political crisis, comes as the pandemic has sapped economic growth and eaten into government reserves.
“I will always put principles first over personal interest. No role, no matter how important, justifies going against the principles and ethics that have always guided my actions,” Ortiz told reporters.
Bolivia’s ministers of labor, development and mining