Six months after its chair Lai Xiaomin was found guilty of corruption and executed, the fate of Huarong Asset Management, Chinas biggest bad debt manager, is no clearer and the stakes for Beijing are rising. One of four state-owned asset management companies established in 1999 to clean up the banking sectors debts following the Asian…
Under HELP, repayments begin to be deducted from your salary at just 1 per cent this financial year once you earn $46,620. This ratchets up 10 per cent if your income hits $136,740. While you used to be able to escape repayments in periods where you were living overseas, worldwide income now counts, and the…
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Earlier this year, Black farmers were slated to receive billions of dollars in federal aid to wipe away their U.S. Department of Agriculture loans. The chance of actually getting that money however is starting to wither. That’s because two federal judges have blocked Black, Brown and other farmers of color from getting the debt-relief payments.…
PODGORICA — A European financial institution is prepared to help refinance Montenegro’s $1 billion debt to China, which the Balkan country incurred over a controversial highway project. Montenegrin Finance Minister Milojko Spajic said the low-interest credit from the financial institution will allow the cash-strapped government make savings and cut interest rates. He also told a…
UK companies struggling with coronavirus-related debts have been thrown a lifeline by the government which will not pursue them for unpaid taxes in order to avoid a wave of insolvencies this summer. Restructuring experts have warned that many companies will struggle to stay afloatfrom next month when emergency Covid-19 business support measures begin to be…
Washington, DC: IMF Managing Director Kristalina Georgieva today announced that the International Monetary Fund has secured sufficient financing pledges to allow the Fund to provide comprehensive debt relief to Sudan. 101 IMF member countries have pledged to provide more than SDR 992 million (US$1,415.7 million) in financing. This will enable the clearance of Sudans arrears…
“The number of prime customers purely using them for that purpose has dropped from 59% to 43%, while home improvement usage has increased.” More second charge borrowers are using the proceeds from their loans for other purposes beyond debt consolidation, according to the latest data from Evolution Money. Evolution’s quarterly data tracker analyses data from…
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By XIMENA BUSTILLO 06/21/2021 10:00 AM EDT With help from Tatyana Monnay Editors Note: Weekly Agriculture is a weekly version of POLITICO Pros daily Agriculture policy newsletter, Morning Agriculture. POLITICO Pro is a policy intelligence platform that combines the news you need with tools you can use to take action on the days biggest stories.…