Sunday, 27th November 2022
<To guardian.ng
Search

Argentina reaches deal to avoid defaulting on debt repayment

By France24
23 June 2021   |   3:44 pm
Argentina breathes a sigh of relief after the country reached a deal with the Paris Club of international creditors to extend the repayment period for the bulk of its $2.4 billion worth of debt. Without the agreement, the country would have defaulted at the end of July. Plus, Morgan Stanley is reportedly planning to bar unvaccinated staff and clients from entering its offices in New York starting next month and to lift some Covid-19 restrictions in return.

Related

10 Oct 2021
Congressional Republicans' refusal to vote alongside Democrats to raise the debt ceiling is "reckless and dangerous," US President Joe Biden says in a speech from the White House.
13 Oct 2021
Javier Milei is the embodiment of anti-establishment rebellion. For years, the economist did the rounds on talk shows and slammed the country's politics. Now he wants to be its leader. Young voters think that's good.
20 Nov 2021
Argentines dealt a severe blow to President Alberto Fernandez's ruling coalition amid widespread discontent over the deepening economic crisis and spiraling inflation.
13 Dec 2021
Shares in Evergrande tumbled as much as 19 percent on Monday in Hong Kong, after the Chinese property developer warned it might not have enough funds to repay its debt, prompting authorities to summon its chairman. A grace period expires on Monday for a coupon repayment worth over $82 million, pushing the company to the verge of default once again. Evergrande has already made three 11th-hour repayments in the past two months.
9 Dec 2021
The Chinese property giant Evergrande has missed a key debt deadline and is inching closer to a possible restructuring. Financial Analyst Danni Hewson explains why the meltdown isn't sparking turmoil on global stock markets. Also in the show: the Carbon Disclosure Project releases its 2021 ranking of sustainable business practices.
12 Dec 2021
Shares in the Chinese property company Kaisa have been suspended from trading in Hong Kong, as fears mount that the firm may be unable to make a $400 million debt payment due on Thursday. Kaisa is a much smaller player than the troubled giant Evergrande, but also has high levels of foreign debt. Also today, we look at how the United Arab Emirates has changed its working week to Monday-Friday to align with other international business hubs.
15 Dec 2021
Debt levels have increased as more sub-Saharan countries look towards borrowing. Zambia's debt now equals its total GDP, while Kenya may be speeding towards its own financial crisis.
16 Dec 2021
Lawmakers in the United States have voted to raise the government's borrowing limit by $2.5 trillion, narrowly avoiding a catastrophic default. The Senate passed the measure 50-49. The new debt ceiling will give the US government enough space to borrow until 2023, after the midterm elections. Focus in Washington will now return to whether President Joe Biden can get his $1.75 trillion social spending plan, "Build Back Better", passed by the end of the year.
22 Dec 2021
The International Monetary Fund's executive board has approved the extension of $115 million in debt relief to 25 eligible low-income countries from January 11 to April 13 next year in an effort to help them ride out pandemic-induced headwinds.
4 Feb
Authorities in Buenos Aires are searching to determine what the cocaine was mixed with. Over 50 people were also hospitalized after ingesting the tainted batch of the hard drug.
6 Feb
The Federal Government has blamed delays in completing some major projects, including railways, on the paucity of funds. Minister for Transportation, Rotimi Amaechi, in this exclusive with Guardian TV spoke on the delay in the execution and completion of all railway projects. He also gave insight into the kind of leader he would want to succeed President Muhammadu Buhari in 2023 as well as the reasons for the increasing insecurity in the South-South.
16 Feb
Developing economies were hit hardest by the global economic recession brought by the pandemic. A looming debt crisis could make things much worse, according to a new report.