We want to continue providing relief to borrowers facing cash-flow challenges while encouraging them to resume loan repayments to the extent they are able to, so that they do not accumulate too much debt, MAS managing director Ravi Menon said in the statement. SINGAPORE: Singapore banks will extend debt relief for individuals and small-to-midsized businesses…
Khao San Road businesses were forced to close because of the Covid-19 pandemic, which damaged the business environment nationwide.Apichart Jinakul Fears of a debt tsunami are amplifying with debt relief measures by the Bank of Thailand set to expire later this month. Suffering businesses are urging an extension to avoid shouldering a mountain of debt…
By Reuters Staff 2 Min Read FILE PHOTO: World Bank President David Malpass responds to a question from a reporter during an opening press conference at the IMF and World Bank’s 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, U.S., October 17, 2019. REUTERS/Mike Theiler BERLIN (Reuters) – The COVID-19 pandemic…
Zambia is running out of money to pay its debts. It has asked bondholders for breathing space so that it can put a restructuring plan in place. The copper-rich African state is at risk of being the first country to default on its debts since the start of the coronavirus pandemic. Not the last though.…
Some 342m of UK investments will help fund Chinese debt as Communist Party bonds are upgraded by the London Stock Exchange Chinese Communist Party to list its bonds on the World Government Bond index Promotion to the global index gives China access to much larger pools of capital UK funds have already invested 3billion in…
Small island nations are in a bind. Under assault from climate change, they need to spend big to protect their communities from rising seas and dangerous storms. But a major source of incomeinternational tourismhas dried up due to the coronavirus pandemic. So now theyre pleading with world leaders for help and relief. As small island…
By Marc Jones 5 Min Read LONDON (Reuters) – The worlds poorest countries could soon be facing a tough decision — double up on debt relief from the G20 with the caveat they must default on private creditors, or quit the programme to try to keep financial markets on side. FILE PHOTO: A man stands…
Despite the coronavirus lockdowns, or helped by them perhaps, much of the U.S. is in the midst of a red-hot housing market. But buying a home can be challenging if you have student debt. More than 44 million Americans collectively owe around $1.6 trillion in student loans, according to Federal Reserve and New York Federal…
By Marc Jones 5 Min Read LONDON (Reuters) – The worlds poorest countries could soon be facing a tough decision — double up on debt relief from the G20 with the caveat they must default on private creditors, or quit the programme to try to keep financial markets on side. FILE PHOTO: A man stands…
Enlarge this image Nearly 40% of student loan payers are helping someone else pay off their student loans, a new study found. Sengchoy Inthachack/Getty Images/EyeEm hide caption toggle caption Sengchoy Inthachack/Getty Images/EyeEm Many people with student loans aren’t carrying the burden of their debt alone. The mountain of debt weighs down their families, too. “Student…