I wont pretend the college debt crisis I wrote about in a Globe Magazine cover story last month will be easy to solve. Tackling most of the problems I highlighted will demand lots of money, brainpower, and perseverance, and even then resolution may be elusive. But theres one particularly troubling problem that could…
A bill establishing a legal framework for Puerto Rico to restructure its $72 billion debt load passed the House by a 297-127 vote after months of haggling among the Obama administration, Democrats, bondholders, unions, Puerto Rico officialsand conservatives. About the only thing conservatives agree on about legislation the House passed Thursday night providing rescue to Puerto Ricos debt crisis is that…
WASHINGTON (AP) The Supreme Court ruled Monday that Puerto Rico cant restructure more than $20 billion in public debt as it tries to overcome a decade-long economic crisis. The 5-2 ruling said that federal bankruptcy law bars Puerto Rico from enacting its own law to restructure the debt of its financially ailing public utilities. The…
How will HELP debts and student loans change after the election? The Conversation 15 June 2016 No matter who wins, university students are likely to end up paying more, as the Grattan Institute’s Andrew Norton explains. Whichever party wins the 2 July election, changes to the Higher Education Loan Programme (HELP) scheme are on their…
Africa Israel, bondholders remain far apart on debt relief Africa Israel Investments and its bondholders remain far apart about debt relief for the financially troubled property developer. … Read the full article at: http://www.haaretz.com/israel-news/business/.premium-1.725060
The replacement of market funding with increasingly concessional loans from the official sector may have reduced the Greek governments balance sheet debt by as much as 200bn, yet the headline numbers havent captured any of this alleged gain. In our previous post we looked at whether this was reasonable, focusing on several sets of accounting…
WASHINGTON The Obama administration is trying to make it easier for students who have been misled or defrauded by their colleges to have their loans forgiven. The Education Department says a rule proposed Monday would lay out a clear relief process for borrowers who believe they were lied to about job prospects after college or…
By Reuters Published: 05:38 EST, 14 June 2016 | Updated: 05:38 EST, 14 June 2016 ATHENS, June 13 (Reuters) – Greece’s European partners should grant the country debt relief and lower its primary surplus targets, Greece’s central bank chief Yannis Stournaras wrote in the Financial Times. Stournaras said Greece had made significant fiscal progress, the…
Mumbai: The RBI has allowed lenders to carve out the “unsustainable” portion of their loans to troubled corporates and convert them into equity. The new restructuring scheme will help public sector banks in cleaning up large chunks of their bad loans, which amount to Rs 4.76 lakh crore. The extent of loans which cannot be…
Greece’s European partners should grant the country debt relief and lower its primary surplus targets, Greece’s central bank chief Yannis Stournaras wrote in the Financial Times. Stournaras said Greece had made significant fiscal progress, the government had honoured its commitments and “current market interest rates are very favourable to debt relief decisions for both borrower…