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Debt News

Saudi sovereign fund secures $11bn loan

Apo - Saudi Arabia's sovereign wealth fund said Monday it had secured its first ever international loan, boosting the kingdom's diversification drive after its flotation of state oil giant Aramco stalled.

Italy must present 'credible' budget: EU Commissioner

Paris - Italy must present a "credible budget" for the coming year, EU Commissioner Pierre Moscovici said Thursday, calling the anti-establishment government in Rome a "problem".

China's 'Silk Road' project runs into debt jam

Bejing - China's massive and expanding "Belt and Road" trade infrastructure project is running into speed bumps as some countries begin to grumble about being buried under Chinese debt.

Fragile Argentina placing faith in IMF meeting

Buenos Aires - Argentina's Economy Minister Nicolas Dujovne heads to Washington on Monday to thrash out a hastily revised loan deal with the International Monetary Fund to help revive South America's second-largest economy.

Argentina's interest rate hiked to 60% to counter currency woes

Buenos Aires - Argentina's Central Bank announced Thursday it has raised its benchmark interest rate from 45 to 60 percent in a bid to arrest a slide in the value of its currency.

Argentina, IMF agree accelerated loan payout

Buenos Aires - Argentina's President Mauricio Macri said Wednesday that the International Monetary Fund has agreed to accelerate funding in support of his government's austerity program, but the move did little to calm the market as the country's currency came under ...

Argentina says IMF loan disbursements to be accelerated

Buenos Aires - Argentina's President Mauricio Macri said Wednesday that the International Monetary Fund has agreed to accelerate funding in support of his government's austerity program, but his comments did little to calm the market as the country's currency came un...

Greece's Tsipras hails end of bailout 'Odyssey'

Atenas - Greek Prime Minister Alexis Tsipras called Tuesday a "day of redemption" as he hailed the end of his country's eight-year "Odyssey" of painful bailouts.

Greece hails new post-bailout chapter but concerns remain

Atenas - Greece turned a page on eight years of spending cuts and three straight international bailouts on Monday but experts warned that the country's economic challenges are far from over.

Greece emerges from bailouts relieved, but not euphoric

Atenas - The youngest Greeks may not be able to remember what life was like beforehand: the third and last of the country's international bailouts comes to an end on Monday, and while Greece is faring better, it still bears the scars of eight years of austerity...

Greece gets last bailout tranche as crisis nears end

Apo - Greece received on Monday the final 15-billion-euro payment from its eight-year bailout programme in what creditors hailed as proof that tough austerity measures were "paying off.

No extra ECB help for Greece after bailout ends: Draghi

Frankfurt Am Main - European Central Bank chief Mario Draghi on Thursday said Greece was "not eligible" to benefit from the bank's massive monthly bond purchases after the debt-laden country exits its bailout programme in August.

S&P raises Greece debt rating to B+ on reduced debt risks

New York - Ratings agency S&P Global announced Monday it was upgrading the debt rating for Greece given the improved prospects for the country to pay off its sovereign debt.

Greece hails 'historic' deal to end debt crisis

Atenas - Greek Prime Minister Alexis Tsipras on Friday hailed an agreement by Eurozone ministers that will put an end to the country's eight-year bailout program as an "historic" step.

Greece 'turning a page' as eurozone agrees debt relief

Atenas - The Greek government on Friday said the country was "turning a page" after eurozone ministers declared its crisis over as they granted Athens debt relief under a bailout exit strategy.

Greece crisis declared 'over' as eurozone agrees debt relief

Luxembourg - Eurozone ministers declared the end of the Greek debt crisis early Friday agreeing debt relief and a big cash payout for Greece, part of a broad bailout exit deal that will close eight years of financial rescues for cash-strapped Athens.

Greece creditors agree debt relief in bailout exit deal

Luxembourg - Eurozone ministers agreed debt relief and a big cash payout for Greece early Friday, part of a broad exit deal that will close eight years of austerity and bailouts for Athens.

Germany pockets 2.9 bn euros from Greece bailouts

Frankfurt Am Main - Germany has earned some 2.9 billion euros ($3.5 billion) since 2010 on Greek debt bought to help the struggling country, a government report seen by AFP showed Thursday.

Eurozone ministers seek end to Greece bailout odyssey

Luxembourg - Eurozone ministers will on Thursday try to resolve their differences over the terms of Greece's departure from its massive bailout programme with splits over the degree of debt relief needed by cash-strapped Athens.

Greeks wary of 'worse' days after bailout

Atenas - The end to Greece's third and final multi-billion bailout, to be set in motion Thursday, is unlikely to provide a respite from pay cuts and tax hikes, many Greeks fear."It's all false, new measures will come...

Argentina and IMF agree on $50 billion loan

Buenos Aires - The International Monetary Fund (IMF) agreed with Argentina to a standby loan of $50 billion over a three-year period, Finance Minister Nicolas Dujovne said Thursday.

IMF-Argentina loan talks 'well advanced,' spokesman says

Washington - Talks between the International Monetary Fund and Argentina on a new loan program are in advanced stages, with the Fund's board likely to consider the matter soon, a spokesman said Thursday.

Italy financial markets plunge on political turmoil

Milan - The Milan stock exchange plunged more than three percent Tuesday, while Italy's debt-risk premium surged, reflecting investor worry over the prospect of a fresh eurozone crisis.

Argentina braces for investor flight amid bid to save peso

Buenos Aires - Argentina appeared Tuesday to have halted the slide in the peso after the Central Bank introduced desperate measures to prop up the currency and staunch the flight of capital.The peso had clawed back 0.

IMF's Lagarde says ready to assist Argentina

Washington - International Monetary Fund chief Christine Lagarde said Thursday she is ready to aid Argentina and wants talks on a financing package to be finalized quickly.

Chinese insurer Anbang's ex-boss jailed 18 years for fraud

Shanghai - A Chinese court jailed the former high-flying head of troubled Anbang Insurance Group for 18 years on Thursday for defrauding the company of more than $10 billion.

Chinese insurer Anbang's ex-boss jailed 18 years for fraud

Shanghai - A Chinese court sentenced the former head of troubled Anbang Insurance Group to 18 years in prison on Thursday for fraud and corruption, Xinhua news agency said, following accusations of stealing more than $10 billion.

Argentina minister to meet IMF's Lagarde to request loan

Washington - Argentina Economy Minister Nicolas Dujovne is due to meet Thursday with IMF chief Christine Lagarde to request a financing package to help shore up the struggling economy, officials said Wednesday.

African growth picks up but debt a concern, says IMF

Libreville - Growth across sub-Saharan African will rise to 3.4 percent this year from 2.8 percent in 2017, but in the continent's poorest countries, debt is a major burden, the IMF said on Tuesday.

IMF censures Venezuela over economic data gaps

Washington - The International Monetary Fund on Wednesday censured Venezuela for failing to provide key economic data in a process that eventually could result in the Latin American nation's expulsion from the fund.
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Student embraced by Grim Reaper of Debt
Student embraced by Grim Reaper of Debt
DonkeyHotey
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Increasing price of textbooks on students.
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New Jersey's baboon is finally captured.
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Akademos Logo, Akademos Philosophy, Flatworld Knowledge Textbooks, eReader, CoursePack
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Debt
Debt
Flickr
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Federal Reserve G20 Data Display in Ratio Line Chart
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
Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency