Analysts are warning of a surge in defaults in consumer debt in the US if Congress fails to extend the programme of increased unemployment benefits that was put in place to ease the effects of the coronavirus outbreak. Lawmakers are locked in negotiations over further stimulus to replace the pandemic unemployment assistance payments, worth $600…
From Commentary July 24, 2020 July 24, 2020 5 minute read When the Menzies government took office in December 1949, Australias public debt stood at 120 per cent of GDP. By the time Robert Menzies retired, on Australia Day, 1966, that proportion had dropped below 50 per cent. With the Treasurer on Thursday announcing eye-watering…
When will it finally sink in? No-one really cares about the deficit or the national debt, least of all the millions of Australians now facing the very real threat of a long period of unemployment, personal hardship and crisis. As Treasurer Josh Frydenberg and Finance Minister Matthias Cormann grimly fronted a media pack in Canberra,…
The nation will be taking a deep breath today as were forced to see some scary numbers that will be compared to scarier times of this countrys life, such as World War II, when Japan bombed Darwin, fought a sea battle on the Coral Sea that laps Townsville and sent a submarine into Sydney Harbour!…
The International Monetary Fund has approved a $7.6 million debt relief to Burundi to help it deal with the impact of the COVID-19 pandemic. IMF said the debt relief will help free up the East African country’s resources for public sector health needs including other emergency spending and help mitigate the balance of payments shock…
(Ecofin Agency) – The International Monetary Fund announced in a July 20 statement it has agreed to write off up to$7.6 million of Burundis debt. The move aims to help the country face the coronavirus crisis and the socio-economic challenges that came with it. It is part of the Catastrophe Containment and Relief (CCR) Trust,…
Mohammed al-Jadaan, Saudi Arabia’s minister of finance, wears a protective mask as he attends a virtual meeting of G-20 finance ministers and central bank governors July 18, 2020. Advocates say they are disappointed the G-20 meeting did not yield as much help for desperately poor nations struggling during the COVID-19 pandemic as hoped for, and…
Adelaide Tuesday July 21, 2020 Your views: on 5G, Crows and Hong Kong Eight Australian magazines closed permanently Charges laid over fatal Dreamworld ride Diary of a Bookseller: Writers, readers and lovers Hackney A lack of transparency around how Centrelinks Family Tax Benefit is balanced has seen some payments stalled, leaving welfare recipients stressed and…
July 20, 2020 The IMF Executive Board approved debt relief under the Catastrophe Containment and Relief Trust to provide US$ 7.63 million (SDR 5.48 million) over the next 3 months, and potentially up to US$ 24.97 million (SDR 17.96 million) over the next 21 months. IMF debt relief will help free up resources for public…
Image caption “Buy now, pay later” allows customers to delay payment or split it into smaller instalments Buy now, pay later service Klarna has seen a boom in business during Britain’s lockdown. That includes a 105% increase in the number of running shoes purchased using its services, a 60% hike in beauty product sales and…