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Debt News

No escape for Mozambique as debt troubles mount

Maputo - Mozambique's renewed efforts to solve its spiralling "secret debt" crisis have again collapsed, leaving the country struggling to recover its reputation as one of Africa's potential growth hotspots.

Surveying the current state of student debt: Interview Special

Hoboken - The company LendEDU has just released the results of its survey of 1,001 student loan borrowers and their thoughts on changes to the student debt bankruptcy policy, in the U.S. A research analyst provides an oversight.

Moody's downgrades Turkey rating on policy alarm

Paris - Ratings agency Moody's downgraded its assessment of Turkey's ability to pay back its debts further into junk territory, citing concerns over monetary policy, reform delays and institutional strength.

Economists call for overhaul of eurozone fiscal rules

Paris - Leading economists from France and Germany on Wednesday called for new fiscal rules for the eurozone and the creation of an independent watchdog to help to make the single currency more resilient against crises in the future.

S&P pushes Brazil credit rating further into junk to BB-

Washington - International credit ratings agency Standard and Poor's on Thursday pushed Brazil further into junk territory, lowering the long-term ratings of Latin America's biggest economy to BB-.

Venezuelan Minister attacks US during China visit

Bejing - Venezuela's foreign minister blamed the US for his country's spiralling debt crisis on Thursday, saying Washington's "permanent attack" had left the economy crippled.

Debt bear stalks Goldilocks economy

Paris - The global economy is enjoying a Goldilocks moment, with growth and inflation neither too hot nor too cold.

Venezuela in new defaults on two bonds: ratings agency

Caracas - Crisis-wracked Venezuela has defaulted on two bonds, failing to make a $183 million coupon payment, ratings agency S&P said Friday.

China targets booming online lending as crisis fears build

Bejing - When Jia Xinru needed to borrow money to buy new clothes, order food and buy a projector to screen Breaking Bad on her wall, she had instant access to China's growing number of lenders via her mobile phone.

Greece reaches preliminary agreement with creditors

Atenas - Greece said Saturday it had reached a preliminary agreement with international creditors that it was meeting its commitments to unblock the latest tranche of a third bailout programme.

General named to head debt-ridden Venezuelan oil company

Caracas - Venezuela's President Nicolas Maduro on Sunday named a general to head debt-ridden PDVSA and ordered a "total restructuring" at the state oil giant, in a move that emphasized military support for his regime.

Venezuela: PDVSA makes payments on $233 million debt

Caracas - Venezuela's state-owned oil firm PDVSA said Friday it has started to repay $233 million in interest on two bonds nearing default, days before the end of the 30-day grace period.

Venezuela suffers another blow as PDVSA declared in default

New York - Crisis-plagued Venezuela suffered another blow Thursday as a committee of creditors ruled that state oil company PDVSA has defaulted on its debt, a decision that triggers payment of default insurance to investors.

Creditors rule Venezuela state oil firm PDVSA in default

New York - A committee of creditors on Thursday ruled that Venezuelan state oil company PDVSA has defaulted on its debt, a decision that triggers payment of default insurance to investors and deals another blow to the oil-rich but cash-poor nation.

Citgo is key link between US and Venezuela

Washington - Despite its deepening travails, Venezuela remains an important player in the United States, where it owns oil refineries and pipelines through Citgo, a unit of Venezuelan state oil company PDVSA.

Venezuela payments could alter default grade; not outlook: S&P analyst

Washington - If the crisis-stricken Venezuelan government manages to scrape together funds to make payments on its delinquent bonds, that would change the default designation but not the nation's prospects, a top ratings agency told AFP on Wednesday.

Greek PM announces welfare handouts of 1.4bn euros

Atenas - Greece will plough 1.4 billion euros of its fiscal surplus into welfare handouts, Prime Minister Alexis Tsipras said late Monday, as the country emerges from an austerity programme imposed by creditors.The Greek economy is expected to grow 2.

Maduro says Venezuela will 'never' default on its massive debt

Caracas - Venezuelan President Nicolas Maduro insisted on Sunday that his cash-strapped country would "never" default, as he prepared to meet with creditors in Caracas to discuss rescheduling part of the country's massive $150 billion debt.

Venezuela's misery could worsen with debt default

Caracas - Luber Faneitte has lung cancer but there's no medicine to treat it. She cannot make ends meet. Crime is rampant in her neighborhood.And she fears that if Venezuela defaults on its $150 billion debt, which is considered likely, things will get worse.

Venezuela creditors committee postpones default decision

New York - A committee of Venezuelan creditors postponed until Monday a decision on whether state oil company PDVSA has officially defaulted on its debt payments.

Venezuela default contagion easily contained: economists

Paris - A looming Venezuelan debt default is unlikely to trigger any domino effect in neighbouring economies as markets have long since priced in such an eventuality, economists say.

Creditors push back Venezuela default decision

Caracas - Decision day on a looming Venezuelan default was pushed back Friday after a committee of creditors postponed a ruling on whether state oil company PDVSA had officially defaulted on its debt repayments.

Moscow says Venezuela agrees to debt restructuring terms

Moscow - Venezuela has agreed to Russia's terms for restructuring its debt, Moscow's finance minister said Wednesday.

Stalked by default fears, Venezuela calls creditor meeting

Caracas - Venezuela on Friday called foreign creditors to a November 13 meeting in Caracas aiming to restructure its estimated $150 billion debt, as credit-rating agencies dealt the crisis-stricken country another blow with double downgrades.

Venezuela sets meeting with creditors for November 13: official

Caracas - Venezuela has called its foreign creditors to a meeting November 13 in Caracas in an effort to restructure its estimated at $150 billion debt, Vice President Tareck el Aissami said Friday.

In Moscow, Venezuela's Maduro thanks Putin for support

Moscow - Embattled Venezuelan leader Nicolas Maduro thanked Russian President Putin for his support, after they held talks in Moscow Wednesday focussed on financial aid for the crisis-stricken Latin American country.

Could Venezuela's debt crisis force regime change?

Caracas - Venezuela might look bad right now with protests, scarce food and fraught political tensions. But it could soon get a lot worse, according to analysts, because of a debt emergency raising the specter of default.

Malaysia's 1MDB misses Abu Dhabi payment

Kuala Lumpur - Malaysia's scandal-hit state investment fund 1MDB has missed a payment to Abu Dhabi of over $600 million that it was supposed to make by the end of July to settle debts, the emirate's sovereign wealth fund said Tuesday.

Greek PM hopeful new bond will open access to ECB funds

Atenas - Greek Prime Minister Alexis Tsipras on Wednesday claimed that his country's first bond sale in three years would help convince the European Central Bank to provide additional liquidity to its struggling economy.

Greece returns to debt markets after three-year hiatus

Atenas - Greece returned to the debt markets for the first time in three years on Tuesday, with reports saying it was on track to raise funds at a lower cost, marking a symbolic victory for the beleaguered eurozone nation.
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New Jersey s baboon is finally captured.
New Jersey's baboon is finally captured.
Via Flickr / xJason.Rogersx
President Barack Obama signs the Budget Control Act of 2011 in the Oval Office  Aug. 2  2011
President Barack Obama signs the Budget Control Act of 2011 in the Oval Office, Aug. 2, 2011
White House photo by Pete Souza
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Federal Reserve G20 Data Display in Ratio Line Chart
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It’s always good to pay off your credit card debt, and with interest rates rising, what better time than now?
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Student embraced by Grim Reaper of Debt
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Comparison of debt in countries with the Euro as currency
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Akademos Logo, Akademos Philosophy, Flatworld Knowledge Textbooks, eReader, CoursePack
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