Student debt relief extended to 1.14 million borrowers with defaulted FFELP loans – Yahoo Finance Australia

The Education Department (ED) is halting interest and debt collection on about 1.14 million defaulted loans in the Federal Family Education Loan Program (FFELP). At a time when many student loan borrowers have faced economic uncertainty, were ensuring that relief already provided to borrowers of loans held by the Department is available to more borrowers…

Guterres urges ‘decisive action’ to stave off debt crisis in developing world – UN News

Though significant steps have been taken to preventdebt crises across the world sparked by the COVID-19 crisis,they have not been sufficientto restore economic stabilityinmany developing countries, according to a policy brief issued by the UN Secretary-General on Monday. More than a year into the pandemic, the fiscal impacts of the crisis are triggering debt distress…

UN chief calls for more pandemic debt relief for poorer nations – Yahoo News Australia

UN Secretary-General Antonio Guterres called Monday for greater debt relief and new creative financing to help poorer nations deal with the pandemic and prevent their economic recoveries from falling behind. A “new debt mechanism” to provide more options — including debt swaps, buy-backs and cancellations — is needed, he said, as many nations have been…

IMF and World Bank Consider Sudan Eligible for Assistance Under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative – International Monetary Fund

March 26, 2021 Washington, DC: The Executive Boards of the World Bank and International Monetary Fund (IMF) met on March 23 and 26, respectively, to consider Sudans eligibility for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The Executive Boards commended the authorities sustained commitment to economic and institutional reforms under challenging…

IMF and World Bank Consider Sudan Eligible for Assistance Under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative – World Bank Group

WASHINGTON, March 26, 2021The Executive Boards of the World Bank and International Monetary Fund (IMF) met on March 23 and 26, respectively, to consider Sudans eligibility for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The Executive Boards commended the authorities sustained commitment to economic and institutional reforms under challenging circumstances and…

Sudan closer to debt relief with U.S. loan to clear World Bank arrears – Reuters

WASHINGTON/KHARTOUM (Reuters) – Sudan has settled its debts with the World Bank after nearly three decades, moving the heavily indebted African country closer to a much-needed international debt-relief package, the World Bank, U.S. Treasury and IMF said on Friday. World Bank President David Malpass attends the “1+6” Roundtable meeting at the Diaoyutai state guesthouse in…

Debt relief will be distributed as quickly, carefully as possible, says Vilsack – Successful Farming

The USDA will disburse up to $4 billion in Biden-backed loan forgiveness to minority farmers as speedily as possible, said Agriculture Secretary Tom Vilsack at the first-ever House Agriculture Committee hearing on the state of Black farmers. Farm state Republicans said the debt relief, intended as compensation for decades of racism, was itself discriminatory because…