Thursday, 18th August 2022
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27 Jun
Group of Seven leaders have unveiled an infrastructure plan meant to bolster the global economy and counter China. But crippling debt owed by poorer countries may get in the way.
21 Apr
While rich countries borrowed at low rates and saved their economies, poorer nations have spent billions servicing debt. The war in Ukraine will only worsen the pressures on core product prices, officials warn.
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.
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.
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.
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.
9 Sep 2021
US Treasury Secretary Janet Yellen has warned the US government will run out of money next month. She called on Congress to raise the debt limit in a letter to House Speaker Nancy Pelosi.
17 Aug 2021
Barcelona, Spain, Aug 16 (EFE).- FC Barcelona has debts totaling 1.35 billion euros ($1.6bn) and its economic situation is “worrying,” the club’s president Joan Laporta confirmed Monday, a week after the Catalan giants had to let go of star player Lionel Messi due to financial woes.
4 Jul 2021
IMF and US officials praised the Sudanese civlian government's economic reforms. The African country is now on track to paying off most of its massive debt over the next few years.
23 Jun 2021
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.
22 May 2021
If it's all about the post-pandemic recovery and if deficits no longer matter, then what about Africa? France is welcoming leaders for a summit devoted to finance and relieving the debt owed by a continent that felt the full brunt of a world economy under lockdown. The age-old question feels more acute than ever: how to be like the US and Europe and earmark huge sums for healthcare, schools, green energy and infrastructure... instead of using the money to pay interest on old debts?
22 May 2021
According to Sudanese PM Abdalla Hamdok, the East African country's total debts amount to some $60 billion. France is hosting a conference of several African leaders offering to assist Sudan's transitional government.

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