The United States government has barred Ghana from receiving foreign assistance, including development loans and flagship programs such as the Millennium Challenge Corporation (MCC), following the country’s failure to meet debt obligations owed to Washington.

The restrictions are set to take effect in the 2026 financial year.

A report to the U.S. State Department stated that the decision is based on the “debt default restriction” under Section 7012 of the FY 2025 State, Foreign Operations, and Related Programs Appropriations Act (SFOAA).

The law prohibits aid to countries that have defaulted on sovereign debt owed to, or guaranteed by, a U.S. person or certain official creditors, and have not yet reached a debt restructuring…

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THERE appeared to be a mix-up in communication between the president of the Public Services Association (PSA) and the office of the Chief Personnel Officer (CPO), over details regarding the ten per cent wage offer and resulting back pay to be made to PSA-represented public servants as negotiations continue.

The PSA on December 2, announced that back pay for its members – determined to be $3.8 billion, will be paid on or before December 23.

However, speaking with Newsday on December 02, CPO Daryl Dindial said the back pay would not be paid in full, it will not all be in cash, and it may not be paid in a single financial…

The National Company Law Tribunal (NCLT) at Mumbai recently reaffirmed that insolvency proceedings against personal guarantors under the Insolvency and Bankruptcy Code can be initiated even if no CIRP is pending against the corporate debtor, relying on the Supreme Court’s ruling in State Bank of India v. Mahendra Kumar Jajodia(2022).

A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar reiterated that the tribunal’s jurisdiction is independent of any insolvency action against the borrower.

It observed, “Under Section 60(1) of the Insolvency and Bankruptcy Code, 2016, the National Company Law Tribunal (NCLT) is the Adjudicating Authority for insolvency and bankruptcy proceedings relating to personal…

The Supreme Court recently reiterated that the objective of Section 8(8) of the Prevention of Money Laundering Act(PMLA) is to ultimately restore any attached properties to the bonafide successful resolution application(SRA) who have a legitimate interest in it.

Section 8(8) allows the Special Court to direct the Central Government to restore property that has been confiscated under the Act to a person or claimant who has a legitimate interest in it, upon conclusion of the trial. However, second proviso allows restoration during the trial.

Involving second proviso to Section 8(8) of PMLA, the Court allowed that the property of V Hotels Limited(corporate debtor), confiscated by the Enforcement Directorate (ED), be restored to Macrotech…

So, what shifted beneath the surface this year to drive LMICs debt stocks?

One major factor was the increase in debt reorganization by LMICs. Such efforts hit their highest level since 2010, with most agreements involving IDA-eligible countries. Reorganizations included restructuring under the Group of Twenty Common Framework, debt swaps, and agreements with private creditors, notably bondholders. 

And progress is occurring — on the margins. Haiti, Ghana, Somalia, and Sri Lanka, for example, secured restructuring agreements that shrank their long-term external debt by anywhere from 4 percent to 70 percent. With support from the Global Sovereign Debt Roundtable, Ghana completed its restructuring in half the time of previous…

Chat logs and gambling data show the tactics used by Stake, an Australian-run online casino, to keep one player hooked.

A former employee says it’s a “mild” case compared to the flood of addicted players complaining to the site daily.

It took eight days for Oscar* to be picked out as a loser.

He had fallen into a catastrophic bender, depositing more than $US40,000 ($61,000) into the online casino, Stake, and losing it all.

After watching this initial bloodbath, a casino employee stepped in.

But it wasn’t for a welfare check; Oscar was being welcomed into Stake’s VIP program.

Jelena VIP: Hey Oscar.

Jelena VIP: Welcome aboard to my VIP team, I’ll be taking care of your VIP bonuses.

TEMPO.CO, Jakarta – The subsidiary of PT Astra International Tbk, PT United Tractors Tbk (UNTR), through its subsidiaries, PT Danusa Tambang Nusantara (DTN) and PT Energia Prima Nusantara (EPN), has established a new company, PT Nusantara Industri Nikel Lestari (NINL). The Minister of Law has approved the establishment of this new subsidiary through Decision Number AHU-0103497.AH.01.01.YEAR 2025 on December 2, 2025.

UNTR Corporate Secretary, Ari Setiyawan, stated that PT Nusantara Industri Nikel Lestari operates in the non-iron metal manufacturing industry and the metal and metal ore trading sector.

“The establishment of NINL is part of the company’s group’s continued diversification of its business activities through the controlled…

A debt advice charity in Taunton has announced that demand for its service has nearly doubled over the past year.

Taunton Area Debt Advice (TADA) provides people in the town and the surrounding area with free, non-judgemental debt advice.

The charity has now said that 40 families were supported in the first 11 months of 2025, an increase from the 22 supported in 2024.

TADA has said that this equates to debts totalling over £310,000 in 2024.

The charity, which only has four existing advisers and one in training, now has a waiting list in place for its services, but has said it remains “committed to helping all who seek assistance.”

Looking ahead to 2026, TADA is encouraging individuals not to ignore creditor communications and to seek…

Taunton Area Debt Advice (TADA) provides people in the town and the surrounding area with free, non-judgemental debt advice.

The charity has now said that 40 families were supported in the first 11 months of 2025, an increase from the 22 supported in 2024.

TADA has said that this equates to debts totalling over £310,000 in 2024.

The charity, which only has four existing advisers and one in training, now has a waiting list in place for its services, but has said it remains “committed to helping all who seek assistance.”

Looking ahead to 2026, TADA is encouraging individuals not to ignore creditor communications and to seek professional support.

Chairperson and adviser Janet Gillett said: “Debt advisers have the…