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Emergency Decree 886/2021, published on 24 December 2021, does not extend the prohibition to terminate employment without cause and for lack or reduction of work or force majeure, or to suspend employees for lack or reduction of work or force majeure. The Decree also sets forth a progressive schedule that reduces the additional severance until its finalization in June 2022.

On 25 November 2021, the European Commission adopted Implementing Regulation (EU) 2021/2071 subjecting vaccines against COVID-19 and active substances used for the manufacture of same to export surveillance for a period of 24 months starting from 1 January. This Regulation will replace the existing regulatory framework requiring vaccine exports to be subject to an authorization by Member States.

The risks arising from unsustainable indebtedness to which both traditional and alternative financing sectors have exposure are higher in emerging economies, where the debt burden is much more elevated generally and whose borrowers are more susceptible to default if (as is expected), US dollar interest rates rise. Emerging economies with less policy intervention, monitoring and regulation are more vulnerable than advanced economies. This eighth installment focuses on the phenomena of rising global indebtedness and alternative financing.

On 16 November 2021 a new Coordination Agreement (CA) over Health Control, executed between the Federal Ministry of Health and the State of Baja California (“Baja”), was published on the Federation’s Official Gazette. This new CA has a particular impact over the medical devices industry operating in Baja, improving greatly the regulatory environment.

Shelter-in-place or stay-at-home orders have been prevalent throughout the United States since March 2020 as state and local governments have sought to protect their citizens from the spread of the COVID-19 virus while at the same time reopen their economies in accordance with phased reopening plans. Key developments reflected in this week’s update to the Tracker include Colorado, Hawaii, Indiana, Louisiana and Rhode Island extending their state-wide orders on reopening.