ANKARA Turkey is contributing to debt relief to Somalia by pledging around 2.4 million in Special Drawing Rights (SDR), an IMF reserve currency, the country’s Official Gazette announced on Thursday. The move comes under the Heavily Indebted Poor Countries (HIPC) Initiative, a World Bank and IMF-created framework to help provide debt relief to the world’s…
Debt consolidation gathers debt from multiple sources and puts it in one place, which simplifies paying off what you owe. Consolidation can also allow you to reduce the interest rate or total amount of your debt. Most of us manage many forms of debt simultaneously, keeping track of due dates and balancing interest rates to…
Comment: In Argentina, green debt relief has supported forest conservation, an approach that can and should be scaled up as coronavirus stretches budgets At last months meetings of the International Monetary Fund (IMF), three topics dominated the conversation: the coronavirus pandemic, greening the recovery, and climate change. For many developing countries, especially the poorest, the…
Few Americans have the cash they need on hand to pay for big-ticket items upfront. That’s why it’s not unusual for people to take out mortgages, car loans and student loans, so they can pay for these costly expenses over time. But when it comes to other major purchases like home renovations, engagement rings, medical…
As the economic effects of the COVID pandemic spread across the world in March and April, the air was filled with promises that poorer countries would be assisted with aid and debt relief to deal with a crisis that threatened to plunge millions, above all children, into the most abject poverty. In April, International Monetary…
If you have a pile of debt even if youre managing to pay the bills every month it might feel like youre not making headway on what you owe. Thats when debt consolidation can help. Debt consolidation is when you roll multiple debts into one loan that has one monthly payment and one (hopefully lower)…
Debt has become a major issue everywhere, and many Texas residents are now struggling with tens of thousands of credit card debt and personal loans made even worse by recent events. If you are not struggling to pay your debt, have a good income relative to your debt payments, and your credit scores are 720…
As the coronavirus pandemic has caused millions of Americans and their families to take a second look at their spending habits, it’s more important now than ever to recognize where you can cut back and save. An easy place to look is where you may be spending when you don’t need to. This money could…
Need to know Lenders, by law, must take reasonable steps to check that a person is able to repay a loan before approving it New reforms proposed by the Australian government will remove this requirement Financial counsellors fear they will be overwhelmed if the reforms go ahead When Shahir Azamy walked into a Commonwealth Bank…
SINGAPORE – Help is at hand for small firms in financial distress due to Covid-19. One initiative will assist sole proprietors or partnerships restructure unsecured debt such as credit card bills or loans secured without collateral. Another scheme will help small- and medium-sized enterprises (SMEs) work out their credit facilities across multiple banks and finance…