Sri Lankas external debt burden is well known. The country, which came out of a long civil war in 2009, is currently struggling to service an outstanding debt of about $46.6 billion. But more recently, the Central Bank has found a very high level of household debt in the war-affected communities of the north and…
Hurricane Maria did more than destroy Puerto Rico’s electric grid and water supply. It has destroyed the Puerto Rican economy. Pharmaceutical factories, the island’s main source of jobs and income, are either closed or partially operating. Many small businesses were destroyed, and those that weren’t are struggling without reliable electricity or running water. The tax…
Private contractors will answer calls from Centrelink’s welfare recipients after the Department of Human Services outsourced call centre work to multinational services company Serco. In an unprecedented move for the welfare agency, 250 of the company’s Australian subsidiary staff in Melbourne will take calls about payments in a three-year pilot program costing the government $51.7…
Victorians struggling to pay gas and electricity bills will be entitled to more help to prevent debt and disconnection under new rules for energy retailers. Flexible payment options, lower tariffs and a six-month debt payment “hold” for people who have missed paying their energy bills are part of changes announced by the Essential Services Commission…
Victorians struggling to pay gas and electricity bills will be entitled to more help to prevent debt and disconnection under new rules for energy retailers. Flexible payment options, lower tariffs and a six-month debt payment “hold” for people who have missed paying their energy bills are part of changes announced by the Essential Services Commission…
According to Life Delayed, a report issued by American Student Assistance (ASA), The average amount paid for a mortgage, student loans, and credit card debts equals $1,670.12, or 44.2% of the average college graduates take home pay8.2% higher than the maximum debt-to-income ratio required to qualify for a typical home mortgage, and with no room…
Victorians struggling to pay gas and electricity bills will be entitled to more help to help prevent debt and disconnection, under new rules for energy retailers. Flexible payment options, lower tariffs and a six-month debt payment hold for people who have missed paying their energy bills are part of changes announced by the Essential Services…
The notion of companies helping employees pay off their student loans has been hailed by experts, the media (including this outlet) and policy makers as the next 401(k). But glitches in the way student loan companies process and apply the payments could be standing in the way of the perk becoming more ubiquitous. Mounting concern…
opinion By Henry Boyo Barely eleven years ago, Nigeria was compelled by pressure, from International creditors, particularly the London and Paris club, to ‘voluntarily’ part with almost $12.4bn allegedly owed, so that another $18bn debt could be written off, from the country’s total external debt of about $30bn. Notably, the debt write-off was, primarily, the…
by Guy Chazan Wolfgang Schäuble has warned that spiralling levels of global debt and liquidity present a major risk to the world economy, in his parting shot as Germany’s finance minister. In an interview with the Financial Times, the Europhile who has steered one of the world’s largest economies for the past eight years said there…