Vietnam national university of economics and business

2.5.3. Other countries

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  Japan: Japanese Prime Minister Taro Aso has announced a relief package worth 27 trillion yen ($275 million), which includes increased credit support for small businesses.
  
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  European Union: drafted the program of the economic stimulus package within 2 years. The package will represent at least 1% of the bloc's total income, or about 130 billion euros ($170 billion).
  
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  China: announced a package of economic solutions worth 586 billion USD to prevent the impact of the financial crisis. The amount of 586 billion USD is spent in 10 areas, including infrastructure, social security from now until 2010, people's consumption, especially affordable housing, health care, education, environmental protection and reconstruction in disaster-stricken areas, such as the earthquake-stricken area in Sichuan province. Part of the stimulus package was also earmarked for the private sector.
  
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  Korea: the Korean government announced a bailout of USD 100 billion over a period of 3 years to support all foreign debts incurred by domestic financial institutions; at the same time, a support of 30 billion USD was injected into banks to increase liquidity.
  
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  UK: The UK government has announced a £50 billion ($88 billion) plan to bail out eight of the biggest banks and financial institutions in the country. In return, the government will receive shares of these institutions.
  
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  Spain: Spanish Prime Minister Jose Luis Rodriguez Zapatero on Tuesday (October 7), increased the deposit guarantee level at banks to 100000 euros ($136,000) from 20000 euros previously.
  
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  In Latin America: Argentina became the first country to take steps to prevent the economic downturn. The country's President Cristina Kirchner has proposed reducing taxes and increasing investment, to help limit the impact of the global financial crisis on the economy. The President also announced the decision to inject more than 21 billion USD into the country's infrastructure investment.