The Bank of Thailand is considering adding a haircut method to the third phase of debt relief measures to help borrowers reeling from lower income caused by the virus crisis. The regulator has discussed an additional debt relief instrument with financial institutions to respond to the actual requirements of borrowers on a case-by-case basis for…
With the number of consumers in hardship soaring as hundreds of thousands of people put their mortgage payments on hold, the bank said its action was aimed at protecting customers from potentially ending up in a worse situation. NAB’s group executive for personal banking, Rachel Slade, said customers were in vulnerable situations due to the…
With the number of consumers in hardship soaring as hundreds of thousands of people put their mortgage payments on hold, the bank said its action was aimed at protecting customers from potentially ending up in a worse situation. NAB’s group executive for personal banking, Rachel Slade, said customers were in vulnerable situations due to the…
Zambia took on debt to revamp a railway to Victoria Falls.AFP Zambia was once a model in Wall Street’s rush to issue debt for the world’s poorest nations, attracting bigger orders and lower interest rates than some more-developed countries. Less than a decade later, the Southern African nation is straining to pay back more than…
Photo by Melissa Walker Horn on Unsplash Wealth management platform Myprosperity has seen a 200% increase of debt recorded on its platform since the start of the year. As more Australians are having conversations about their financesduring the COVID-19 pandemic, Myprosperity now tracks $12 billion worth of debt on its platform, with an 80% increase…
Loading The energy regulator told retailers in March they must not disconnect any small business or residential customer who had contacted them about their payments, and that they could not refer anyone to debt collectors for unpaid bills. Those instructions were extended on Tuesday until the end of October. The Australian Energy Council, representing 22…
From: Canada Revenue Agency The Canada Revenue Agency (CRA) is closely monitoring the COVID-19 situation, and is committed to supporting Canadians throughout it. The CRA understands that individuals and businesses might be dealing with difficulties in meeting their financial obligations, including paying tax debts they may have incurred prior to the crisis. The Canada Revenue…
So why dont most economists share the worries of so many conservative politicians, headline writers and ordinary citizens? Five reasons. The first is, these are extraordinary times. Im not sure Frydenberg is right in claiming the pandemic is “without doubt, the biggest shock this country has ever faced,” but its certainly one of them. And…
The Treasury is in talks with the UKs largest banks about an industry-wide plan to help tackle the tens of billions of pounds of bad debts expected under the governments light-touch coronavirus bounce back loans scheme. More than 1m of the UKs smallest companies have borrowed 33bn in just two months under the bounce back…
After the immediate virus crisis, he says that if interest rates remain low, the government consistently balances the budget and economic growth is about a trend 2.75 per cent, gross debt-to-GDP could be reduced by 1 percentage points a year. Frydenberg and Finance Minister Mathias Cormann have emphasised that the key to sustainable debt management…