NEW ZEALAND - Financial System in Solid Position

Arno Froese

New Zealand’s Central Bank said that the financial system is in a solid position to weather the significant economic impact caused by the COVID-19 pandemic and support the country’s recovery. 

“Our economic stress test analysis suggest banks can continue to lend and prosper through a broad range of adverse scenarios,” RBNZ Governor Adrian Orr said in the financial stability report that it releases twice a year. 

Orr said the government’s wage subsidy scheme, which provided short-term support to firms that have lost income, and RBNZ’s easier monetary policy have cushioned the financial impact from the coronavirus pandemic. 

New Zealand shut its borders for nearly seven weeks in one of the toughest restrictions in the world, which helped contain the spread of COVID-19. 

There have been only 21 deaths from the virus, and about 1,500 cases so far. Most restrictions have now been lifted. 

-www.reuters.com, 26 May 2020

Arno's commentary

New Zealand, one of the three most prosperous former British colonies, has bridged the global coronavirus pandemic rather well.

The country is based on the European social-capital system, with excellent healthcare and generous compensation for workers. 

Johns Hopkins University lists New Zealand’s coronavirus deaths per 100,000 at 1.5 (Australia 1.4, USA 5.3). What’s even more miraculous is Hong Kong—a former British colony now under Chinese jurisdiction, and one of the most densely populated cities in the world—registers only 0.5 deaths per 100,000. Why these virtually mind-boggling differences exist, no one really knows. But, this has sparked conspiracy theories the world over. 

Based on the prophetic Word, we do know and repeat: this global pandemic serves one specific purpose—the closer unity of the nations of the world, for the purpose of admiring, even worshipping, the fake peacemaker, Antichrist.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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