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.
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.
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.
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.
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?
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.
South African University bosses say that there's little chance that student debt could ever be written off. As the cost of edcation in the country mounts, so does frustration. Scotland's University of Aberdeen will give back a looted sculpture to Nigeria. And the Black Mambas are a pioneering all female, Morrocan American football team giving it their all on the pitch.
The change is a key reform demanded by foreign donors and the International Monetary Fund (IMF). The country is hoping to overhaul its debt-laden, inflation-hit economy.
AU warns of ‘terrible’ consequences if Africa miss out on Covid-19 vaccine, LASU hikes tuition by 168% for new students and more
10 Dec 2020
Here are a few reasons to pick up a copy of The Guardian on Friday. Find these stories and much more when you grab a copy of The Guardian on Friday.
7 Mar 2020
Today, one in three Egyptians live just above the poverty line. As a consequence, the rate of micro-credit lending has grown, with women the principle beneficiaries. Some 70 percent of loans in Egypt are given to women, but thousands of them fall victim to loan sharks and even end up in prison. FRANCE 24's Ruth Michaelson reports.
12 Dec 2019
1. Make a budget and stick with it A budget is helpful in many facets of life. Christmas is no different. 2. Don't forget to budget hidden costs Things like holiday travel, Christmas parties or children's activities are easy to overlook, but are an important part of the budget and more.
1 Sep 2019
Argentina is pushing creditors for more time to pay back its debts. The country is hemmed into a worsening crisis. President Macri laid out a series of desperate measures to try and lighten the country’s debt load. They will force investors into short-term notes, issued in the local market to accept longer maturities.