“Today, 3.3 billion people live in countries that spend more on interest payments than on health, and 2.1 billion live in countries that spend more on interest payments than on education,” the report said. “Interest payments on public debt are therefore crowding out critical investments in health, education, infrastructure and climate resilience.” The indebted governments…
2.7 million extra households will receive £150 off their energy bills next winter as the Warm Home Discount is expanded – putting money directly into people’s pockets this increases the number of households who are eligible to over 6 million in total – including 900,000 families with children and a total of 1.8 million households…
Debt aid for 1 million sparks debate over fairness and cost (123rf) The South Korean government’s plan to launch a “bad bank” to ease the burden on individuals struggling with loan or debt repayment has drawn mixed reactions. Some view the initiative as a safety net for the financially vulnerable and a means to reduce…
Tens of thousands of Victorian businesses are expected to pay less in tax, with payroll tax changes to be introduced next month. The change will see the payroll tax-free threshold rise from $900,000 to $1 million on July 1. Premier Jacinta Allan said it was expected that 28,000 businesses would be paying less, with an…
2025 year of sustainable, inclusive debt action Public debt is rising faster than ever. In 32 Commonwealth countries, debt exceeds 60 per cent of national income, meaning a significant share of the economy is tied to liabilities and debt service costs are sizable. Meanwhile, climate change is driving up borrowing costs. Inevitably, people bear the…
Opening Remarks by the IMF First Deputy Managing Director Gita Gopinath Conference on “Sri Lanka’s Road to Recovery: Debt and Governance” Shangri-La Hotel Colombo Excellencies, distinguished guests, colleagues, and friends, It is a great honor to join you today for this important conference which takes place at a critical juncture in Sri Lanka’s economic journey.…
Plenty of Australians may have a little extra in their paycheck soon thanks to the federal government’s HECS debt reduction plan. The Labor government made a promise to slash student debt by 20 per cent if elected last month and the “game-changing” cut is expected to be legislated when parliament returns on July 22. This…
Image: Debt Justice A groundbreaking new report by world-leading economists calls for urgent action and systemic reforms to tackle the escalating debt and development crises affecting billions worldwide. ‘The Jubilee Report: A Blueprint for Tackling the Debt and Development Crises and Creating the Financial Foundations for a Sustainable People-Centered Global Economy,’ is launched today (Friday…
The distressed debt funds that feasted on Carlyle’s Bis Industries are once again smacking their lips as a new refinancing candidate –toxic waste storage company Tellus Holdings – lands on the dealmaking circuit. Street Talk understands Tellus, which drew Hong Kong credit fund Tor Investment Management into its debt stack as part of a 2021…
Vatican calls for debt forgiveness for poor nations The EastAfrican Read the original article here