LUSAKA, Jan 23 (Reuters) – Zambian President Hakainde Hichilema urged the country’s creditors on Monday to agree to a quick debt restructuring to aid economy recovery efforts. Hichilema made the remarks during a visit to Zambia by International Monetary Fund (IMF) Managing Director Kristalina Georgieva, who met Hichilema, Finance Minister Situmbeko Musokotwane, central bank governor…
New debt roundtable could aid discussions – Yellen China, private sector reluctant to take ‘haircuts’ Zambia’s per capita income dropped to low-income status LUSAKA, Jan 23 (Reuters) – Two of the world’s most powerful finance officials are visiting Zambia this week, a reflection of the growing concern shared by Western officials about how China and…
An aged pensioner who feared “losing everything”over an incorrect bill from the Robodebt scheme was forced to make repayments on the debt while she was still contesting it. Key points: The Royal Commission into the Robodebt Scheme resumed hearings for 2023 on Monday WitnessRosemary Gay said receiving an incorrect bill for almost $65,000 “turned my…
Aid and campaign groups, including Oxfam and Christian Aid, have called on the international community to cancel a large portion of Gahan’s debts as it struggles to deal with the worst economic crisis in the country’s history only a few months before it is due to host the African Games in Accra. Ghana’s consumer inflation…
NEW YORK, Jan. 20, 2023 (GLOBE NEWSWIRE) — Apollo Debt Solution BDC (ADS, we, or the Fund) today announced that its Board of Trustees has declared special distributions totaling $0.06 per share to be distributed in three consecutive monthly payments of $0.02 per share. Payments will be made on or around March 29, 2023, April…
Jan 19 (Reuters) – Zambia needs “desperate debt relief” and agreements under a Group of 20 restructuring vehicle are proving difficult, the World Bank’s managing director of operations said on Thursday. “In the last two years, we have seen the limitations of the common framework,” Axel van Trotsenburg told a panel at the World Economic…
CHICAGO Today, Mayor Lori E. Lightfoot and City Comptroller Reshma Soni launched the 2023 Administrative Debt Relief (ADR) Pilot Program. Available immediately, the program provides a course for Chicagoans mired in debt stemming from Administrative Hearing violations some of which disproportionately impact low-income communities and are associated with higher fees than other municipal debt. “Like…
(Updates with comments, context) By Jorgelina do Rosario and Yoruk Bahceli Jan 19 (Reuters) – Zambia needs “desperate debt relief” and agreements under a Group of 20 restructuring vehicle are proving difficult, the World Bank’s managing director of operations said on Thursday. “In the last two years, we have seen the limitations of the common…
The cost of living crisis is set to continue impacting household budgets across the country into the first half of 2023 as a result of high inflation, soaring energy bills and ever-increasing prices at the supermarket. As the financial pressure mounts, especially post-Christmas, Christians Against Poverty (CAP) Scotland is encouraging those who are unable to…
Cofounder / Partner at Lendzi. getty As a small-business owner, you should never borrow more money than you need. Debt can be a constant drain on your companys cash flow, and unless you have the principal reserved or can generate the needed profits, you may face problems when that debt becomes due. As a cofounder…