New beginnings: Resolving consumer insolvencies in Central Asia – World Bank

Consumer debt has surged in Kazakhstan and Uzbekistan following the COVID-19 crisis, with over-indebtedness and consumer defaults reaching remarkable levels. In 2023, the two countrieswith support from the World Bankintroduced Central Asias first consumer insolvency mechanisms as a key policy measure to enhance financial stability and social welfare.  A preliminary assessment now suggests that while…

Malawi's Plan to Create a Stable and Sustainable Economy – International Monetary Fund

February 2, 2024 Adherence to the authorities’ macroeconomic adjustment and reform program would help Malawi overcome current and future challenges Stagnant growth, unsustainable debt, and the adverse effects of multiple shocks, including an outbreak of cholera and Cyclone Freddy last year, have compounded Malawi’s economic challenges. The IMF Executive Board recently approved a $175 million…

Amsterdam launches pilot program to offer faster debt relief for economically homeless – NL Times

In an effort to help financially struggling residents, the city of Amsterdam launched a new pilot program to assist 100 “economically homeless” individuals with debts exceeding 2,200 euros. The initiative will offer faster debt relief and a chance for the group of people to regain financial stability. The city defined economically homeless individuals as those…

Student-debt experts who helped craft Biden's second try at relief want more borrowers eligible – Business Insider

Economy Pressure is building on Biden to consider more student-loan borrowers for debt relief Ayelet Sheffey 2024-01-31T15:55:11Z Share icon An curved arrow pointing right. Share Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to send an email. Email Twitter icon A stylized bird with an open mouth, tweeting. Twitter…