FILE PHOTO: International Monetary Fund Chief Economist Gita Gopinath takes questions at the annual meetings of the IMF and World Bank in Washington, U.S., October 18, 2019. REUTERS/James Lawler Duggan WASHINGTON (Reuters) – Private sector participation will be essential to ensuring the success of a debt relief initiative launched by the Group of 20 major…
Lawmakers and businesses are pushing the U.S. government to offer debt relief to hundreds of small hotel owners who borrowed with the help of bond markets. But the biggest beneficiaries of any assistance could be large real estate owners affiliated with properties that owe troubled hotel debt, according to an analysis by hotel union Unite…
Council raises issue of NPL surge at SFIs Relief packages seen skewing real figures Visitors peruse housing loans at the GH Bank booth at Money Expo 2019.(Photo by Patipat Janthong) Chatchai Sirilai, chairman of the Government Financial Institutions Council, has flagged concerns about spikes in bad loans among specialised financial institutions (SFIs) after their debt…
Sri Lankas request to India for a postponement of its debt repayment amidst the current economic crisis is under consideration, say officials, though no decision has been taken, more than four months after the request was made personally by Sri Lankan Prime Minister Mahinda Rajapaksa to Prime Minister Narendra Modi. On Saturday, Mr. Rajapaksa renewed…
IRVINE, CA – MARCH 30: Credit cards are cut in half during a shreading ceremony at Christ Our … [+] Redeemer Church in Irvine. (Photo by Mindy Schauer/Digital First Media/Orange County Register via Getty Images) MediaNews Group via Getty Images If every older household had little or no debt and a large savings account to…
The EU, along with a group of countries, is pushing for a relaxation in how debt relief is defined in the latest round of talks at the OECDs Development Assistance Committee (DAC) on Thursday (25 June), EURACTIV understands. The DAC sets the rules on how international development aid is defined and accounted for towards the…
Before the coronavirus pandemic hit Australia, the nations economic situation was already looking pretty dire. Now, however, unemployment has reached lows not seen in 91 years and millions of Australians are hanging by a thread thanks to government stimulus payments. According to Financial Counselling Australia, 13 per cent of the population or more than 2.5…
The coronavirus pandemic has wreaked havoc on the Australian economy, and the financial effects for many are deeply personal. Sadly, theres no shortage of terrible advice online when it comes to personal finance. And as September 30 looms – the date by which JobKeeper, the increased JobSeeker and many negotiated rent and mortgage deferrals end…
June 23, 2020 End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMFs Executive Board. The Staff-Monitored Program will support the implementation of the…
The UKs National Union of Students has launched a mass action aimed at getting debt relief for students whose education has been disrupted by coronavirus, as experts warn against government proposals to push back A-level exams in 2021 for school-leavers who have been affected. The NUS said it is wanted students who have faced the…