“Hamilton” creator Lin-Manuel Miranda and his smash hit Broadway musical just saved Alexander Hamilton’s spot on the $20 bill. Comedian John Oliver tapped Miranda Sunday to help out with another, much bigger money problem. Oliver used Sunday’s episode of HBO’s “Last Week Tonight” to take a closer look at Puerto Rico’s massive debt. The island is…
Following a two-day meeting of eurozone finance ministers in Amsterdam, German Finance Minister Wolfgang Schäuble said Greece wont necessarily require an easing of its debt burden. Schäuble said this would apply if the International Monetary Fund and the Germany-led consortium of lenders determine that the countrys debt sustainability is ensured, Bloomberg reported Saturday. A countrys debt sustainability is…
German Finance Minister Wolfgang Schaeuble said Greece doesnt need debt relief now and wont require an easing of its debt burden as long as the troika of creditors determines that debt sustainability is ensured. The European Stability Mechanism, the euro regions financial backstop, will seek to lock in the favorable refinancing costs its passing on…
* Kasikorn to cut two additional rates by 25 bps * Follows cuts to another rate by nation’s top four lenders * Rate cuts aimed at helping debt-laden small businesses (Recasts headline) By Khettiya Jittapong and Manunphattr Dhanananphorn BANGKOK, April 22 Two of Thailand’s biggest banks said they plan to cut more lending rates, seeking…
Despite a huge global glut that led to defaults, closures, and enormous operating losses for producers, Chinese steel prices have been on a tear in 2016. The rise has been buoyed by lower-than-normal inventory levels, seasonal restocking, producers bringing forward production ahead of government-enforced curtailment later this month, plus a surge in Chinese construction activity.…
Gov. Kenneth Mapp wants the Legislature today to designate $8 million from a recent court settlement to help reduce the long-overdue power bills owed by the territorys two hospitals. Mapp said Luis Hospital on St. Croix owes the V.I. Water and Power Authority $12,085,850.64, while Schneider Medical Center owes $8,832,392. These two institutions continue to…
WASHINGTON, DC Once again, Greece is at an inflection point. With its cash balances severely stressed, it seems unlikely to be able to pay the cascading debt payments that are falling due over the next few months. So yet another round of contentious and protracted discussions with its creditors is underway one that may well…
Greece’s Prime Minister Alexis Tsipras: “Greece, in this last turn, needs a push forward not backwards.” Photo: AP Greek Prime Minister Alexis Tsipras on Thursday rejected the idea of more austerity measures and called for debt relief instead after the European Commission said Greece’s fiscal performance was better than expected last year. Economic progress has…
Clearing the debts of the poor reduces their anxiety and helps them focus better, possibly reducing the chances that they will make bad decisions which keep them mired in poverty. This was a key finding of the first local study on how debt affects the poor, which was presented at a conference yesterday. But before…
Greek Prime Minister Alexis Tsipras has rejected the idea of more austerity measures and called for debt relief for Athens. It comes as the European Commission said Greece’s fiscal performance was better than expected last year. Economic progress has been a sticking point in bailout talks, which have dragged on for months. The European Union…