G20 finance ministers and central bankers are set to hold talks Wednesday aimed at spurring global recovery from a coronavirus-triggered recession while considering a proposal to extend debt relief for crisis-hit poor countries. The virtual talks, hosted by current G20 president Saudi Arabia, come a day after the International Monetary Fund warned that global GDP…
The African country struggles to convince lenders that it cannot pay its debt, preferring to divert money to saving lives at home. After facing off powerful private creditors, the small African country of Zambia is now at loggerheads with Chinese lenders on the matter of deferring debt repayments which have crippled its economy. Zambia is…
Zambia has said it will resist pressure from Chinese creditors to make paying arrears a condition of pursuing debt relief talks, as the southern African nation battles to restructure $11bn of external debts. Africas second-biggest copper producer has become a test case for the ability of poor and indebted nations to find debt relief as…
Business debt consolidation combines all of your loans into one, which can lower your interest rates and decrease your risk of accidentally missing a payment. However, debt consolidation isn’t for everyone. Before you combine your loans, learn how debt consolidation works and its benefits and risks. Editor’s note: Looking for the right loan for your…
Five years ago, the Bundaberg Christian Heritage Church in partnership with national charity Christians Against Poverty (CAP), opened a debt centre, where they help people manage their debt with the goal of becoming debt-free. Five years ago, the Bundaberg Christian Heritage Church in partnership with national charity Christians Against Poverty (CAP), opened a debt centre,…
Government ministers of poor and indebted nations will this week appeal to their creditors for a much more ambitious debt relief effort as they grapple with the healthcare and economic consequences of the coronavirus pandemic. They will set out their case for greater support from foreign governments and multilateral lenders as delegates gather for the…
Luke Grant is joined by Leith Van Onselen, Macrobusiness the Unconventional Economist, who writes that the usual suspects are already fretting over the Australian Governments ballooning debt, claiming we will leave a nasty legacy for future generations. Mr Van Onelen writes, The Federal Government has committed to a record $213.7 billion deficit this year as…
Debt campaigners are calling for the International Monetary Fund to sell some of its stockpile of gold to cover the debt payments owed by the worlds poorest countries for the next 15 months. With a looming developing world debt crisis high on the agenda at this weeks annual meetings of the IMF, the Jubilee Debt…
by Marlon Madden A top official of the World Bank has poured cold water on any hopes of Barbados getting debt relief from lending partners. World Bank Chief Economist for Latin America and the Caribbean Martin Rama said countries in the Caribbean should not count on getting any debt relief and should therefore look seriously…
Text size OSVALDO SILVA/AFP/Getty Images Finance ministers and officials from around the world will gather soon for a virtual annual meeting of the International Monetary Fund and World Bank. Sometimes these gatherings lead to major international announcements. This time, two weeks before the highly consequential elections in the U.S., it would be naive to expect…