UN Secretary-General Antonio Guterres called Monday for greater debt relief and new creative financing to help poorer nations deal with the pandemic and prevent their economic recoveries from falling behind. A “new debt mechanism” to provide more options — including debt swaps, buy-backs and cancellations — is needed, he said, as many nations have been…
When Dominic Raab, the foreign secretary, was in Sudan in January he offered 40m in aid to help its poorest people, who are facing unprecedented food scarcity in a debt-laden country where austerity is deepening. Sudan, ruled by an unelected military-led transitional government after longtime ruler Omar al-Bashir was deposed in 2019, owes the UK…
March 26, 2021 Washington, DC: The Executive Boards of the World Bank and International Monetary Fund (IMF) met on March 23 and 26, respectively, to consider Sudans eligibility for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The Executive Boards commended the authorities sustained commitment to economic and institutional reforms under challenging…
WASHINGTON, March 26, 2021The Executive Boards of the World Bank and International Monetary Fund (IMF) met on March 23 and 26, respectively, to consider Sudans eligibility for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The Executive Boards commended the authorities sustained commitment to economic and institutional reforms under challenging circumstances and…
WASHINGTON/KHARTOUM (Reuters) – Sudan has settled its debts with the World Bank after nearly three decades, moving the heavily indebted African country closer to a much-needed international debt-relief package, the World Bank, U.S. Treasury and IMF said on Friday. World Bank President David Malpass attends the “1+6” Roundtable meeting at the Diaoyutai state guesthouse in…
The USDA will disburse up to $4 billion in Biden-backed loan forgiveness to minority farmers as speedily as possible, said Agriculture Secretary Tom Vilsack at the first-ever House Agriculture Committee hearing on the state of Black farmers. Farm state Republicans said the debt relief, intended as compensation for decades of racism, was itself discriminatory because…
Many people around the world are caught up in the chains of debt. It is an uncomfortable situation, as every financial problem can significantly limit our ability to buy things we want. Sometimes, this budget hole can be so big that it may seem unsolvable. If you are having problems with managing your debt, do…
By Andrea Shalal 4 Min Read (Recasts with World Bank statement) WASHINGTON, March 26 (Reuters) – Sudan has settled its debts with the World Bank after nearly three decades, moving the heavily-indebted African country closer to a much-needed international debt relief package, the World Bank and U.S. Treasury Department said on Friday. World Bank President…
Consumers whose finances have suffered due to coronavirus have just a matter of days remaining to apply for an off-the-peg payment deferral on debt they are struggling to pay. The extended 31 March deadline for applications, as set down by the Financial Conduct Authority (FCA), applies to mortgages, personal loans, credit cards, store cards and…
By Andrea Shalal 4 Min Read (Recasts with World Bank statement) WASHINGTON, March 26 (Reuters) – Sudan has settled its debts with the World Bank after nearly three decades, moving the heavily-indebted African country closer to a much-needed international debt relief package, the World Bank and U.S. Treasury Department said on Friday. World Bank President…